This cannabis stock will continue to offer great long-term results

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Trulieve Cannabis is gaining strength, making it a good option for investors

Cannabis is a plant that, for years, has had a very bad reputation. It is considered a soft drug and common in illegal activities. However, in recent years the situation seems to have begun to change and some countries have started to legalize it, either totally or only for medicinal purposes, which has led to a great attraction for investment in this sector. With the rise of retail investors, many of them have turned to the cannabis sector. And if the US finally decides to legalize the plant at the federal level, the growth of the industry would be even greater. At this juncture, many investors see cannabis as an important opportunity to grow their wealth.

Cannabis legalization has gone from being anecdotal to a global trend. One of the companies that has benefited the most recently is Trulieve Cannabis. While there may be a bit of distrust in the market, the global cannabis business is expanding and this company seems to be going hand in hand with that trend.

New estimates by experts indicate that the cannabis market could grow at a compound annual rate of 20% to reach a value of $149 billion by 2031. While it started as a small medical cannabis business in Florida, Trulieve has been able to grow to operate 175 dispensaries in nearly a dozen states.

Its focus has been on the Sunshine State, where it operates 122 dispensaries. This makes it the dominant operator in the region. Clearly, having such a dominance in such a state puts the company in an extremely privileged position when the recreational market gets the green light there. Having such a successful vision is perhaps what has given the company operating profits for 18 consecutive months.