What a record $2.1 billion deal says about America's marijuana sector
Case in point: Florida-based cannabis company Trulieve (TCNNF) set a new record Monday with its $2.1 billion all-stock deal to acquire Arizona-based Harvest Health. The combination sets Trulieve up to increase its national footprint from six states to 11, and sets it up to be the most profitable multi-state operator with adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) forecasted to top $460 million on the year.