Can Trulieve Recover From the Harvest Deal?

·4 min read

Trulieve (OTC: TCNNF), the largest medical cannabis company in Florida and multi-state operator (MSO), undertook a major acquisition last year in order to expand its footprint from its hub in Florida to the southwest and northeast U.S. It just released its Q2 2022 results, showing some positive gains for the company, but shareholders may not be as happy with where their share price stands today as Trulieve's front office is with the earnings report. Last October Trulieve, until then largely Florida-centered, closed its bid to acquire leading Arizona-based MSO peer Harvest Health & Recreation in an all-stock deal for $2.1 billion where Harvest stockholders exchanged one of their shares for 0.117 of a subordinate voting share of the parent company.