Trulieve Cannabis (OTC: TCNNF) is sizzling hot. So far this year, its share price has soared nearly 60%. That’s a far better performance than any other major U.S. or Canadian cannabis producer, and it comes on the heels of Trulieve’s 47% gain last year. 

But such tremendous momentum raises the question of whether the company can keep the good times rolling. Is it too late to buy Trulieve Cannabis? Or is the marijuana stock poised to deliver more fantastic gains in the future?

"Now Entering Florida" road sign with a cannabis leaf painted on it.

Image source: Getty Images.

A growth machine

Perhaps the best argument for why it’s not too late to buy Trulieve is that the company continues to be a growth machine. Trulieve reported sales of $120.8 million in the second quarter, a 26% jump from the previous quarter and a record high for the company. 

This growth seems likely to continue, at least in the near term. Trulieve raised its full-year 2020 revenue guidance to between $465 million and $485 million. The midpoint of that range is nearly 22% higher than the midpoint of the company’s previous full-year revenue outlook. It’s also an 88% increase from Trulieve’s total revenue last year. 

Trulieve continues to dominate Florida’s medical cannabis market with a market share of close to 50%. It’s adding new stores in the Sunshine State, which could further cement its lead. At the same time, Trulieve is expanding outside of its home state. The company now has operations in four other states: California, Connecticut, Massachusetts, and Pennsylvania. 

Unlike many of its peers, Trulieve is already consistently profitable. It posted net income of $6.6 million in Q2. The company’s Q2 adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled $60.5 million, marking the tenth consecutive quarter of positive results. Trulieve even ranks as the second most profitable pot

Electric-truck startup Nikola  (NKLA) – Get Report postponed its in-person Nikola World conference due to the coronavirus outbreak and stood by its plan to start sales in late 2021.

Shares of the Phoenix company at last check were up 11% to $19.78.

“Due to covid-19 audience-size restrictions at Arizona’s major venues, we have made the decision to reschedule an in-person Nikola World until we can bring the Nikola community together safely,” Nikola said in a statement.

The company maintained in a statement that it “remains committed to achieving” a set of milestones to develop its commercial truck.

“Nikola expects the first batch of five prototypes of the Nikola Tre, a 100% battery-electric truck, will be substantially completed at our joint venture facility in Ulm, Germany, in the next few weeks,” the company said. 

“We remain confident in our ability to begin production of the Tre and make it available to customers starting in the fourth quarter of 2021.”

Nikola also said it continues to make progress developing its one-million square-foot manufacturing facility in Coolidge, Ariz., which is scheduled to be completed by mid-2023.

The company has been beset by a series of problems, including allegations by Hindenburg Research that have sparked an investigation by the Securities and Exchange Commission and the Department of Justice; a share-price drop, and the resignation of its founder and former executive chairman, Trevor Milton.

In addition, Nikola’s $2 billion deal with General Motors  (GM) – Get Report that was slated to close Wednesday stalled after allegations of fraud and sexual abuse surfaced against Milton, CNBC reported.

Two women filed sexual-assault claims with Utah authorities against Milton. Both allegations were more than 15 years old but involve a cousin and an office assistant when both were 15.

Milton’s cousin, Aubrey Ferrin Smith,