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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index added 2.32 to 44.34, while the CSE Composite Index added 1.17 to 284.51. Kim Rivers's U.S. MSO (multistate operator), Trulieve Cannabis Corp. (TRUL), lost 60 cents to $16.60 on 363,200 shares, after releasing quarterly financials and updated guidance. Both sets of numbers raised investors' eyebrows.

For the second quarter, revenue came to $320.2-million (U.S.), less than a 1-per-cent increase from $318.3-million (U.S.) in the first quarter. Given Trulieve's predominant focus on one state (Florida), analysts were not expecting the 5-per-cent or greater revenue jumps seen by fellow MSOs Green Thumb Industries Inc. (GTII: $13.26) and Curaleaf Holdings Inc. (CURA: $7.61). They were, however, forecasting revenue of at least $322-million (U.S.) for Trulieve. Today's figure came up short. Trulieve fared better with adjusted EBITDA, which came in at $111.0-million (U.S.), up from $105.5-million (U.S.) in the first quarter and exceeding analysts' predictions of $106-million (U.S.).

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