TCNNF Stock Forecast 2022 is revised LOWER to $40.23
TCNNF Stock Forecast: Performance Chart 2022
|Stock Name||5 Days||1 Month||6 Months||1 Year|
TCNNF Stock Forecast: Latest Tweet
TCNNF Stock Forecast: 2021 Review
TCNNF had a volatile year in 2021 with prices ranging from $52.28 in March to $24.02 in December. The year started at $31.62 and ended at $26.01
|December 31st, 2020||$31.62|
|December 17th, 2021||$24.02|
|March 18th, 2021||$52.28|
|December 31st, 2021||$26.01|
TCNNF Stock Forecast 2022
|Average Price Target 2022||July 21st||$40.23|
|Echelon Wealth Partners||June||$43.31|
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TCNNF Stock Forecast: TCNNF stock Buy or Sell?
The cannabis industry is considered a growth industry right now although it has faced some hiccups due to inflation. Most companies in this industry are not profitable yet and after the Fed hike, due to the increase in the price of borrowing, they are suffering – This includes TCNNF. Despite all this, the market is expected to expand in the long run.
More and more states are legalizing cannabis and its effects will be seen soon in these growth stocks. Trulieve dominates the Florida market with 114 stores. It is not in 11 states with a total of 165 stores. It has shown a 64% YoY revenue increase at $318 million. While other Canadian brands are struggling to turn out a profit, TCNNF has shown a profit over the last 15 quarters.
This industry remains unaffected by the condition of the economy once it gains momentum. The recreational and medical cannabis market is going to grow – The price target states a high of $96 and a possible low of $17 this shows an increase of 302%. hence, this stock has received a “Buy” rating.
Firstly, profitability is a concern in this industry. Yet, investors are showing confidence because the demand is not reducing any time soon, and once, inflation settles, growth for these companies is going to be even higher. Trulieve Cannabis has a strategy where it has established itself very strongly in its home market of Florida. They have been expanding to other locations as well. Recently, it was legalized in New York and New Jersey where they are not well-established. Their strategy for Florida has worked out well but, not being present in the new markets raises concerns.
This industry is in a nascent stage with many possible uncertainties, it might offer great returns once it is profitable but, right now investors are skeptical about it. This is why even small downturns lead to a fall.
TCNNF Stock Forecast: Google Trends
TCNNF Stock Forecast: Technical Analysis
– Nandini Panchal
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions