Trulieve Cannabis Corp
Change company Symbol lookup
Select an option...
TCNNF Trulieve Cannabis Corp
VFFVX Vanguard Target Retirement 2055 Fund Investor Shares
LUB Luby's Inc
AZO Autozone Inc
RMAX Re/Max Holdings Inc
SWET Athlon Acquisition Corp
ETR Entergy Corp
KUBTY Kubota Corp
PTEN Patterson-UTI Energy Inc
LCII LCI Industries
Go

Health Care : Pharmaceuticals | Small Cap Growth
Company profile

Trulieve Cannabis Corp is a Canada-based seed to sale licensed medical cannabis company. The Company cultivates and produces all of its products in-house and distributes those products to Trulieve branded stores (dispensaries), as well as directly to patients through home delivery. It also operates in California, Massachusetts, Connecticut and Pennsylvania. The Company offers a range of products, such as concentrates, flower, oil, capsules and tinctures. It operates cultivation and processing facility in McKeesport, Pennsylvania. It operates three dispensaries, located in Pittsburgh-area locations and also offers medical marijuana relief solutions for Pennsylvanians certified with serious medical conditions. The Company's subsidiaries include PurePenn LLC, Pioneer Leasing & Consulting LLC and Keystone Relief Centers LLC.

Postmarket

Last Trade
Delayed
$37.50
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$37.50
Day's Change
-1.50 (-3.85%)
Bid
--
Ask
--
B/A Size
--
Day's High
39.20
Day's Low
36.25
Volume
(Heavy Day)
Volume:
761,703

10-day average volume:
434,050
761,703

UPDATE: Shoppers. Shoppers. Shoppers. Wall Street is watching you

11:21 am ET November 24, 2020 (MarketWatch)
Print

Joy Wiltermuth

U.S. stocks ended the week lower, but have gotten an overall boost in November from promising developments on vaccines for COVID-19 which may help the economy to recover further in 2021.

But even if a vaccine were ready and widely distributed sometime next year, it won't help the millions now out of work because of the pandemic or businesses struggling to pay bills.

It also won't make staying home for the holidays (https://www.marketwatch.com/story/thanksgiving-could-see-almost-half-as-many-travelers-despite-the-lowest-seasonal-gas-prices-in-4-years-11605730082) feel less grim.

And that has Wall Street focused on Main Street for clues about what consumers, for decades the engine of the U.S. economy (https://www.stlouisfed.org/publications/regional-economist/january-2012/dont-expect-consumer-spending-to-be-the-engine-of-economic-growth-it-once-was), will do during the crucial holiday shopping season.

"The likelihood of folks hitting the stores next week is nil to none," said Mark Cohen, director of retail sales at Columbia Business School and a former CEO of Sears Canada Inc.(SHLDQ). "Lots of folks are seeing their unemployment checks run out."

Read: 12 million Americans will lose their unemployment benefits the day after Christmas (https://www.marketwatch.com/story/12-million-americans-will-lose-their-unemployment-benefits-the-day-after-christmas-11605898593?mod=article_inline)

Cohen still expects good earnings from retail behemoths with successful online platforms, like Amazon.com (AMZN), Costco Wholesale Corp (COST), Target Corp. (TGT) and Walmart Inc. (WMT), which already benefited during the pandemic from their "essential services" designation that allowed them to keep stores open during lockdowns and from the "work from home" trend. The brunt of the pain, he said, will be felt by retailers that need foot traffic to survive.

"It might have been merely a disrupted holiday season, if not for the fact of the daily ramp up in infections, hospitalizations and deaths," Cohen told MarketWatch. "The damage is going to be rife. It already is."

Adobe Analytics expects online U.S. holiday retail sales (https://blog.adobe.com/en/2020/10/28/adobe-forecasts-189-billion-us-online-sales-this-holiday-season.html#gs.lz77vb) to hit a record of nearly $200 billion between Nov. 1 and Dec. 31, but Deloitte forecasts overall spending around the year-end period to fall by 7% per U.S. household to $1,387 (https://www.marketwatch.com/story/average-holiday-spend-per-u-s-household-expected-to-drop-7-deloitte-says-11603298009).

Kathy Bostjancic, chief U.S. financial economist at Oxford Economics, sees economic data already pointing to a slowing of consumer activity, including retail sales that rose a modest 0.3% in October, the smallest gain since April.

"This reading is one of the first signs that consumer are feeling the pinch of lapsing federal income support as we head into the traditional holiday season," she wrote in a Friday note.

After months of warnings from health experts, new daily coronavirus infections in the colder months have become rampant across the U.S.

Even in places like Billings, Montana (https://billingsgazette.com/news/local/we-do-it-to-help-out-federal-health-care-workers-assist-local-hospitals-during-covid/article_2bebaf10-0099-5191-8e35-81ebe48f93d6.html), the nation's third-least densely populated state (https://www.worldatlas.com/articles/least-densely-populated-u-s-states.html), hospitals have been pushed to the brink (https://www.nbcnews.com/news/us-news/we-are-broken-montana-health-care-workers-battle-growing-covid-n1245526) and forced to tap Federal disaster programs that direct critical care nurses to the front lines during times of crisis.

The Centers for Disease Control and Prevention has pleaded with Americans not to travel (https://www.marketwatch.com/story/were-alarmed-cdc-issues-blunt-statement-against-travel-this-thanksgiving-11605808198?mod=article_inline) during the Thanksgiving holiday period in the next few days. California's Gov. Gavin Newsom also announced a temporary curfew for much of the state, except for essential work. "We are sounding the alarm," Newsom said in a press release. California is America's largest state economy.

Against that backdrop, U.S. stock indexes closed lower (https://www.marketwatch.com/story/stock-index-futures-mixed-as-covid-restrictions-threaten-recovery-11605875477?mod=home-page) Friday, but with the S&P 500 still up 3.4% on the month to date, the Dow Jones Industrial Average 3.3% higher and the Nasdaq Composite Index on pace for a 2.9% monthly gain, according to FactSet data. All three ended trade Friday less than 2.3% off their recent record closes.

Michael Kelly, global head of multi-asset, PineBridge Investments, attributed the resilience in U.S. stocks and credit markets in recent weeks to an overarching view among investors that vaccine progress puts an end to the pandemic and its economic carnage within sight.

"The markets are very confident that what we saw before, in terms of a total lockdown, total darkness, would not be repeated," he told MarketWatch, pointing to the alternatives of mask wearing and social distancing as effective tools to thwart COVID-19's spread.

British drugmaker AstraZeneca PLC (AZN.LN) said the experimental vaccine it is developing with the University of Oxford showed a robust immune response (https://www.marketwatch.com/story/astrazenecas-covid-19-vaccine-shows-encouraging-immune-response-in-older-adults-11605782552) in older adults, based on data from mid-stage trials. That news came after Pfizer Inc. (PFE) and BioNTech SE (BNTX) on Wednesday said their vaccine candidate was 95% effective in late-stage trials and Moderna Inc. (MRNA) on Monday said its vaccine candidate was 94.5% effective in similar trials.

Optimism early in the week around progress on vaccines even sent shares of the giant SPDR S&P Retail ETF XRT (#phrase-company?ref=COMPANY%7CXRT;onlineSignificance=passing-mention) to an all time high of $57.63 on Thursday, before it retreated a slight 0.1% on Friday, according to FactSet data.

In others years, Wall Street might have been thrown off by President Donald's Trump refusal to concede the Nov. 3 election to President-elect Joe Biden, or by the months that have passed without Congress providing another significant round of financial aid that's long been promised.

Read: Party leaders go to their corners ahead of hashing out stimulus (https://www.marketwatch.com/story/party-leaders-go-to-their-corners-ahead-of-hashing-out-stimulus-11605900813?mod=mw_latestnews)

But markets, perhaps accustomed to the turmoil that's become a hallmark of the past four years of the Trump administration, barely flinched Friday (https://www.marketwatch.com/story/why-markets-arent-freaking-out-so-far-over-a-rare-fed-treasury-rift-11605908958?mod=mw_latestnews) after Treasury Secretary Steven Mnuchin abruptly ended several key emergency lending programs it created with the Federal Reserve to keep credit flowing in financial markets during the pandemic.

"This is unfortunate and unhelpful for keeping an orderly, free flow of credit to businesses, consumers and the banking system at a time when it needs it most," said Steven Skancke, chief economic adviser at Keep Point, a wealth management firm, and a former Treasury Department staffer, in emailed commentary.

But investors still can count on the Fed's promise to hold interest rates near zero for years to come and a dovish stance on its massive Treasury debt and government-backed mortgage bond-buying program, which also has anchored markets.

"I can certainly see that we're probably going to have some volatility, but I do think that, ultimately, as we progress with the vaccines it will be positive," said David Norris, TwentyFour Asset Management, about pandemic-related turmoil.

His estimate is that broad distribution and inoculation of an effective vaccine likely happens toward the spring of next year. "The vaccine is incredibly important and that will bring people back to work.

Meanwhile, there's a host of consumer-related U.S. economic reports on tap for next week before the Thanksgiving holiday on Thursday.

James Sweeney, chief economist at Credit Suisse, said he expects Tuesday's consumer confidence index for November to slip to 99.0 from 100.9, "as positive vaccine news and stock market gains are offset by rising COVID-19 infections and new restrictions nationwide," in a weekly note, and for the Commerce Department to report Wednesday a drop in America's personal income in October.

-Joy Wiltermuth; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

November 24, 2020 11:21 ET (16:21 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2021 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., , and

Copyright © 2021. All rights reserved.