TCNNF - Is this Penny Stock About To Break Through?

2023-11-09 09:21:39 ET

Penny stocks are typically defined as those trading below $5 per share. This %Cannabis company has broken through the threshold before and might be on its way again. %TrulieveCannabis (CSE: ) (OTCQX: TCNNF ) announced in a press release today the results for the quarter ended September 30, 2023.

Trulieve is an industry-leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Florida, Arizona and Pennsylvania. Trulieve generated cash flow from operations of $93 million and free cash flow of $87 million, reduced debt with the purchase of $57 million of 2026 notes and announced redemption of $130 million of 2024 notes, resulting in $20 million in interest savings through maturity. The firm also expects 2023 operating cash flow of at least $100 million and free cash flow of at least $70 million.

U.S. non-voting shares closed Wednesday trade at $4.90, up $0.15.