Top 5 Marijuana Stocks to Buy in 2022

3. Trulieve Cannabis Corp. (OTCF:TCNNF)

Number of Hedge Fund Holders: 1

Stock Price as of Feb. 24, 2022: $21.48

Analyst Upside In %: 195%

Trulieve Cannabis Corp. (OTCF:TCNNF) is an American company that solely targets the medicinal cannabis market. The company is headquartered in Quincy, Florida and it operates dispensaries in several American states such as California and Massachusetts. It also has a wide variety of products such as edibles, flowers, vaporizers, and cartridges.

As trading closed on February 24, 2022, Trulieve Cannabis Corp. (OTCF:TCNNF) shares were trading at $21.48, marking a 195% upside over the analyst consensus estimate of $63.4. Of the 924 hedge funds part of Insider Monkey’s fourth quarter 2021 survey, one had holdings in the company.

Trulieve Cannabis Corp. (OTCF:TCNNF) reported $224 million in revenue and $18.6 million in net income for its third fiscal quarter, which enabled it to beat analyst revenue estimates and post a strong 64% annual growth in the metric. Wolfe Research initiated coverage on the company in January this year and set an Outperform rating on the stock outlining that the company had strong pricing power due to efficient store management and market share retention strategies.

Justin John Ferayorni’s Tamarack Capital Management is an important Trulieve Cannabis Corp. (OTCF:TCNNF) investor according to Insider Monkey’s research. It owns 85,000 shares that are worth $2.2 million.