Trulieve Cannabis Corp. (CSE: TRUL; OTCQX: TCNNF) continues its heavy focus on Florida operations this week by opening medial dispensary #37 in the state.
This latest Florida storefront from Trulieve is now open for business in Cape Coral and follows the launch of a Key West dispensary last month to provide access to Keys area patients.
The Cape Coral site saw its grand opening celebration yesterday featuring press tours and a welcoming party to meet the local community.
Discussing the company nearing the 40 store mark as more locations open across the state, Trulieve Chief Executive Officer Kim Rivers commented:
That registry of medical patients has expanded at a rapid pace in recent months, with just shy of 270,000 medical ID cards now active in the state according to Florida’s Office of Medical Marijuana Use.
Between the state’s aging population and high overall median income, numerous licensed cannabis companies have bet big on expanding in Florida, with MedMen Enterprises Inc. (CSE: MMEN; OTCQX: MMNFF) notably opening three new dispensaries last month.
While at this time only medical usage is legal in the state, two major recreational cannabis legalization efforts are already underway.
Make It Legal Florida and Regulate Florida are both hoping to get voter initiatives on the ballot in the 2020 election, with the former group sending out direct mail flyers this week and the latter frequently appearing in person at dispensaries across the state.
In other Trulieve news, the company recruited a new Director of Wholesale and Director of Corporate Growth last month. Trulieve’s stock price saw some slight upward movement this week, currently trading at $9.36 a share.
Like most cannabis companies in both the U.S. and Canada, Trulieve stock has seen a sharp decline since the first half of the year, previously trading in the high $12 range back in May.
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