Trulieve Rolls Toward a Strong Position in the Pot Industry
Trulieve (OTC: TCNNF), a Florida-based seed-to-sale company with 46 medical marijuana dispensaries in the Sunshine State, has been able to adjust smoothly to varying customer demand posed by the COVID-19 pandemic. It didn't hurt that, at least in Florida (the company also has dispensaries in California and Connecticut), it has provided home delivery service from the start. CEO Kim Rivers said that in recent weeks the company has seen a 500% increase in home delivery -- keeping its fleet of 200 vehicles busy -- and a significant rise in curbside pickup at its branches.
On Dec. 9, Trulieve was selling for $13.73 per share. On Dec. 17, the day a critical report on Trulieve was released by short seller Grizzly Research LLC calling the company a fraud, the stock slumped to $9.18. On Jan. 10, Trulieve filed a libel lawsuit against Grizzly in Florida state court, though no action has taken place as yet amid the slowing of proceedings caused by the coronavirus.
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Source Fool.com
