Trulieve Stock And 2 U.S. Cannabis Operators Poised For Schedule III Tax Relief

Federal rescheduling of medical marijuana to Schedule III has turned a complex policy story into a real money question for U.S. cannabis operators like Trulieve, Curaleaf and Green Thumb Industries. Tax relief, shifting politics and fresh regulatory risks are all converging at once. This article walks through three stocks from our U.S. Cannabis Operators screener that are directly exposed to this news, and what that could mean for your portfolio decisions.

The three stocks highlighted below are just a starting sample, since the full screen surfaced 13 more U.S. cannabis operators with equally detailed business profiles and regulatory stories that are not covered in this article. To identify your own highest conviction ideas, analyze and compare the U.S. Cannabis Operators (Plant-Touching) Benefiting from Schedule III Rescheduling using the U.S. Cannabis Operators (Plant-Touching) Benefiting from Schedule III Rescheduling screener.

MariMed (MRMD)

MariMed is a vertically integrated U.S. cannabis company that grows, manufactures and sells branded products ranging from Nature’s Heritage flower and vapes to Betty’s Eddies edibles and Vibations drink mixes. The company also licenses its brands into new states, extending reach without owning every asset. MariMed currently has a market cap of about US$27 million, which puts it firmly in the micro cap bracket.

Investors watching Schedule III rescheduling should have MariMed on their radar because its plant touching, branded model is highly exposed to 280E tax relief, especially with management flagging that about 20% of recent retail revenue comes from medical sales. The company is still loss making and has all its liabilities funded by external borrowing, so balance sheet risk is real. Its established brands, DEA registration efforts and small market value give this stock an interesting mix of potential tax driven exposure and financial fragility that deserves a closer look.

MariMed is positioned at the intersection of tax relief, branded products, and balance sheet pressure, which many investors may be underestimating. Get the full picture and see how these pieces fit together in the 1 key reward and 2 important warning signs (1 is major!)

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Jushi Holdings (JUSH)

Jushi Holdings is a vertically integrated U.S. cannabis company that cultivates, processes, distributes and sells a wide range of branded products, and also runs medical cannabis dispensaries under the Beyond Hello, Nature’s Remedy and NuLeaf banners. The business is heavily skewed to its own stores, with about US$238.9 million of revenue from retail and US$32.8 million from wholesale, and it has a market cap of roughly US$91.9 million. That puts Jushi in the smaller multistate operator bracket where execution and access to capital matter a lot.

Investors watching Schedule III rescheduling may consider Jushi Holdings for their research list because this is a U.S. focused multistate operator that directly touches the plant and has publicly highlighted how 280E relief could reshape its tax bill, especially with medical sales running at about 60% of revenue. Management has also moved early on the new rules, applying for DEA Schedule III registrations and reporting a discrete tax benefit tied to rescheduling, which shows how tightly the story is linked to regulation. At the same time, Jushi carries negative equity, relies on high risk borrowings and remains loss making, so the balance between tax relief, regulatory catalysts and financial strain is where the real investment debate sits for this stock.

Jushi Holdings sits at a sharp crossroads, with tax relief potential alongside heavy borrowing and negative equity. See how that tension plays out in the full 2 key rewards and 2 important warning signs (1 is major!)

Trulieve Cannabis (TRLV)

Trulieve Cannabis is a U.S. cannabis retailer that grows, processes and sells a wide range of branded medical products, from flower and vapes to edibles and topicals, through its own dispensaries and home delivery network. The company generates all of its US$1.1b in revenue from pharmaceuticals related cannabis sales and is active across multiple states including Florida, Arizona, Georgia and Pennsylvania. Trulieve Cannabis has a market cap of about US$1.9b, which places it among the larger U.S. plant touching operators.

Trulieve Cannabis sits right in the sweet spot of the Schedule III story, with plant touching operations, a pure U.S. footprint and management that has already applied for DEA registration and publicly highlighted 280E relief as a game changer. The company is still loss making and revenue is expected to decline in the near term, yet it sits on hundreds of millions in cash, is buying back shares and is now listed on the NYSE. For investors who can accept regulatory and funding risks, the mix of tax relief potential, expanding medical programs in Georgia and Texas, and an active capital return plan raises some big questions about what the next few years could look like for this stock.

Trulieve Cannabis pairs hundreds of millions in cash with pure medical exposure and NYSE status, yet the full story on tax relief, capital returns and regulatory risk is still emerging in the full narrative for Trulieve Cannabis

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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