Trulieve: The Street Has Misunderstood The Equity Offering

TCNNF recently announced a dilutive secondary offering that increases shares outstanding by nearly 4%.

The stock sold off on the news, as existing investors seem to think that all dilution is bad.

In reality, the equity offering kills two birds with one stone: in addition to reducing financial risk, it also may play a key role in accelerating TCNNF’s external growth.

I rate shares a strong buy on account of its valuation based on pro-forma earnings.

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