From The Globe & Mail this morning... TRUL on the rise! "Pot producer Trulieve Cannabis Corp. surged after it reported a 64.4-per-cent jump in quarterly revenue on Monday, as demand continued to rise for cannabis and related products even after the easing of pandemic restrictions.
The cannabis industry was the biggest beneficiary of pandemic-induced lockdowns, with an uptick in consumer appetite for pot products for recreational and relaxation purposes.
Retail stores are now witnessing even higher traffic, as both new and old customers visit after Canada relaxed its pandemic-era curbs.
Trulieve’s revenue rose 64 per cent from a year earlier to US$224.1-million in the three months ended Sept. 31.
The company had completed its US$2.1-billion buyout of medical pot producer Harvest Health & Recreation Inc in October. Trulieve and Harvest’s combined revenue in the third quarter was around US$316-million.
Trulieve’s profit rose 7 per cent to US$18.6-million in the quarter, which included a US$16.4-million one-time compensation and transaction costs related to the Harvest deal."