3 Exciting Reasons Trulieve Looks Like a Strong Buy After Earnings
The marijuana industry caught plenty of investor attention last year when it kept soaring amid a global crisis while other sectors were struggling to survive. The drug was deemed an "essential item" in the U.S. and Canada during the lockdown, leading to higher sales. Sales are on the rise this year, too, and the ongoing wave of state legalization in the U.S. is the icing on the cake. The U.S. cannabis companies, in particular, have outshone their Canadian counterparts. Among these, Florida-based Trulieve Cannabis (OTC: TCNNF) is a rising star that has recorded 13 consecutive quarters of stellar revenue and positive earnings before interest, tax, depreciation, and amortization (EBITDA) -- a rare occurrence for cannabis companies.
On May 10, this already strong contender in the U.S. cannabis space upped its game by acquiring Arizona-based Harvest Health & Recreation (OTC: HRVSF). The deal, valued at $2.1 billion, will give Trulieve a wide hold on the U.S. cannabis market. Let's take a look at three things from its Q1 2021 earnings report, released May 13, that makes this exciting pot stock a strong buy now.
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Source Fool.com
