Trulieve Cannabis: Preparing For Rescheduling

Trulieve Cannabis rallies on renewed hopes for U.S. cannabis rescheduling, but regulatory uncertainty persists. The cannabis MSO remains fundamentally strong with $1.18B revenue, $427M adjusted EBITDA (36% margin), and robust cash flow, despite a $668M uncertain tax liability. Removal of the 280E tax burden could unlock significant upside, but timing and financial impact remain unclear.