Trulieve Cannabis (OTCMKTS:TCNNF) stock is taking off on Monday and we’re diving into what has investors smiling today!
The big news that has investors in TCNNF stock excited comes in the form of an earnings report for the third quarter of 2021. That report includes strong results and growth, which is fueling interest in the stock today.
Let’s start off with the company’s revenue for the most recent quarter. That comes in at $224.1 million. Trulieve Cannabis notes that this is a record revenue for it and represents a 64% increase year-over-year.
Net income of $18.6 million is another high point for TCNNF stock today. That’s thanks to it growing 7% when compared to the company’s net income of $17.4 million from the same period of the year prior.
Kim Rivers, CEO of Trulieve Cannabis, said the following in the company’s Q3 earnings report.
“Our third quarter results underscore our commitment to operational excellence and adherence to our stated goals. We continue to deliver on our promise to pursue profitable growth while executing on our hub strategy.”
TCNNF stock is experiencing heavy trading after the release of its earnings report today. This has some 580,000 shares of the company’s stock on the move as of this writing. That’s already above its daily average trading volume of around 421,000 shares.
TCNNF stock is up 9.7% as of Monday morning but is only up 1.6% since the start of the year.
Investors looking for more hot stock market news are in luck!
InvestorPlace has them covered with our daily deep dives into the stock market. For today, that includes EyePoint Pharmaceuticals (NASDAQ:EYPT) jumping on clinical trial news, C3.ai (NYSE:AI) getting a boost from Cathie Wood, as well as details on electric vehicle (EV) maker Gores Guggenheim (NASDAQ:GGPI). You can get up to speed on these topics at the links below!
More Stock Market News for Monday
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.