TerrAscend Corp. (TRSSF) Stock Analysis
DELISTED 2023
What happened to TerrAscend Corp. (TRSSF) stock?
TerrAscend Corp. (TRSSF) no longer trades on public markets. It was delisted in July 2023. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
TerrAscend Corp. (TRSSF) trades at $1.72. TerrAscend Corp. cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. Market cap: $602M, Sector: Healthcare.
Last analyzed: Mar 16, 2026Analyst Coverage for TRSSF: TRSSF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates TRSSF against Healthcare peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
TRSSF: 1/2 scored disciplines lean bearish. Dominant signal: Ken Griffin bearish.
How is this calculated? →TerrAscend Corp. (TRSSF) Healthcare & Pipeline Overview
TerrAscend Corp. is a North American cannabis company focused on cultivation, processing, and retail sales of medical and adult-use cannabis. With a portfolio of recognized brands and a growing dispensary network, TerrAscend aims to establish a strong presence in key cannabis markets across the United States and Canada.
What Is the Investment Thesis for TRSSF?
TerrAscend Corp. presents a notable research candidate within the expanding North American cannabis market. The company's vertically integrated business model, encompassing cultivation, processing, and retail, allows for greater control over the supply chain and enhanced profitability. With a gross margin of 51.3%, TerrAscend demonstrates strong operational efficiency. Growth will be driven by expansion of its dispensary network and increasing brand recognition. However, the company's negative profit margin of -32.1% and a high beta of 2.00 indicate significant risk and volatility. Investors should monitor progress toward profitability and navigate the evolving regulatory landscape.
Based on FMP financials and quantitative analysis
TRSSF Key Highlights
Market capitalization of $602M reflects TerrAscend's current valuation in the cannabis market.
- Gross margin of 51.3% indicates strong operational efficiency in cannabis production and sales.
- Operates 27 dispensaries as of July 2022, providing a significant retail footprint across key markets.
- Negative P/E ratio of -2.43 suggests the company is currently unprofitable.
- Beta of 2.00 indicates high volatility compared to the broader market.
Who Are TRSSF's Competitors?
TRSSF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| AIHLF Adcock Ingram Holdings Limited | $3.50 | +0.00% | $624M | 48 |
| CCHWF Columbia Care Inc. | $0.94 | -21.71% | $521M | 41 |
| CKDXF Opthea Limited | $0.01 | +0.00% | $13.7M | 53 |
| CSWYF China Shineway Pharmaceutical Group Limited | $1.00 | +0.00% | $758M | 51 |
| VREOF Vireo Growth Inc. | $10.84 | -1.20% | $415M | 62 |
| COLL Collegium Pharmaceutical, Inc. | $27.54 | -4.18% | $893M | 74 |
| PCRX Pacira BioSciences, Inc. | $24.36 | +1.50% | $958M | 85 |
| AMPH Amphastar Pharmaceuticals, Inc. | $21.74 | +1.87% | $959M | 74 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are TRSSF's Key Strengths?
Vertically integrated operations.
- Established brands (Apothecarium, Cookies, Kind Tree).
- Strategic dispensary locations.
- Strong gross margin (51.3%).
What Are TRSSF's Weaknesses?
Negative profit margin (-32.1%).
- High beta (2.00) indicating high volatility.
- Reliance on regulatory approvals.
- Limited geographic diversification.
What Could Drive TRSSF Stock Higher?
Expansion of dispensary network into new states and provinces.
- Increasing brand awareness and customer loyalty through marketing initiatives.
- Product innovation and development to meet evolving consumer preferences.
- Potential acquisitions of complementary businesses to expand capabilities.
- Regulatory changes and legalization efforts in new jurisdictions.
What Are the Key Risks for TRSSF?
Financial-distress signal — its Altman Z-Score of -0.86 sits in the distress zone (elevated bankruptcy risk).
- Negative return on equity (-38.7%) — the business is not currently generating profit on shareholder capital.
- Intense competition from other cannabis companies.
- Evolving regulatory landscape and potential changes in cannabis laws.
- Fluctuations in cannabis prices affecting profitability.
- Economic downturn impacting consumer spending on cannabis products.
- Difficulty in obtaining financing due to the stigma surrounding the cannabis industry.
What Are the Growth Opportunities for TRSSF?
- Expansion of Dispensary Network: TerrAscend has the opportunity to expand its retail footprint by opening new dispensaries in strategic locations. The company can leverage its existing brands, such as Apothecarium and Cookies, to attract customers and establish a strong presence in new markets. This expansion can drive revenue growth and increase market share. The timeline for this growth opportunity is ongoing, with potential for significant expansion over the next 3-5 years.
- Increased Brand Recognition and Loyalty: TerrAscend can invest in marketing and branding initiatives to increase brand recognition and loyalty among consumers. By building strong brand equity, the company can differentiate itself from competitors and attract a larger customer base. This growth opportunity is ongoing, with continuous efforts to enhance brand awareness and customer engagement.
- Product Innovation and Development: TerrAscend can focus on developing new and innovative cannabis products to meet evolving consumer preferences. This includes exploring new form factors, formulations, and consumption methods. By staying ahead of the curve in product innovation, the company can attract new customers and maintain its competitive edge. The timeline for new product development is typically 12-18 months.
- Strategic Acquisitions and Partnerships: TerrAscend can pursue strategic acquisitions and partnerships to expand its capabilities and market reach. This includes acquiring complementary businesses, such as cultivation facilities or processing facilities, or partnering with other cannabis companies to access new markets or technologies. The timeline for acquisitions and partnerships is variable, depending on the specific opportunities that arise.
- Expansion into New Geographies: TerrAscend can explore opportunities to expand its operations into new geographies, both within North America and internationally. This includes entering new states or provinces that have legalized cannabis, as well as exploring opportunities in emerging international markets. The timeline for geographic expansion is dependent on regulatory changes and market conditions.
What Are TRSSF's Competitive Advantages?
- Vertically integrated operations provide control over the supply chain.
- Established brands like Apothecarium and Cookies create customer loyalty.
- Strategic dispensary locations provide access to key markets.
- Proprietary cultivation and processing techniques ensure product quality.
What Does TRSSF Do?
TerrAscend Corp., incorporated in 2017 and headquartered in Mississauga, Canada, operates as a vertically integrated cannabis company, cultivating, processing, and selling medical and adult-use cannabis in both Canada and the United States. The company's operations span the entire cannabis value chain, from cultivation and processing to retail distribution. TerrAscend produces and distributes hemp-derived wellness products to retail locations and manufactures cannabis-infused artisan edibles. The company's retail footprint includes dispensaries operating under the Apothecarium brand in California and Pennsylvania, as well as Cookies dispensaries in Michigan and Toronto. TerrAscend owns various synergistic brands, including Gage Cannabis, Ilera Healthcare, Kind Tree, Prism, State Flower, Valhalla Confections, and Arise Bioscience Inc., allowing it to cater to a diverse range of consumer preferences and market segments. As of July 26, 2022, TerrAscend operated 27 dispensaries, solidifying its presence in key cannabis markets.
What Products and Services Does TRSSF Offer?
- Cultivates medical and adult-use cannabis.
- Processes cannabis into various products.
- Sells cannabis through its own retail dispensaries.
- Distributes hemp-derived wellness products.
- Manufactures cannabis-infused artisan edibles.
- Operates dispensaries under the Apothecarium and Cookies brands.
- Owns various synergistic brands like Gage Cannabis and Kind Tree.
How Does TRSSF Make Money?
- Vertically integrated model encompassing cultivation, processing, and retail.
- Generates revenue through the sale of cannabis products at its dispensaries.
- Distributes hemp-derived wellness products to retail locations.
- Licenses brands and intellectual property.
What Industry Does TRSSF Operate In?
TerrAscend operates in the rapidly evolving cannabis industry, characterized by increasing legalization and growing consumer acceptance. The North American cannabis market is experiencing substantial growth, driven by both medical and recreational use. Competition is intense, with numerous players vying for market share, including established cannabis companies and new entrants. TerrAscend's vertically integrated model and established brand portfolio position it to capitalize on this growth, but it must navigate regulatory complexities and compete effectively to maintain its market position.
Who Are TRSSF's Key Customers?
- Medical cannabis patients seeking therapeutic relief.
- Adult-use cannabis consumers seeking recreational experiences.
- Retail partners who sell TerrAscend's hemp-derived wellness products.
Company Profile
TerrAscend Corp. operates in the Drug Manufacturers - Specialty & Generic industry within the Healthcare sector. It is headquartered in Mississauga, CA. The company is led by CEO Ziad Ghanem. TRSSF has traded publicly since 2017.
How TerrAscend Corp. Is Valued
TerrAscend Corp. carries a market capitalization of $602M, placing it in the small-cap category.
Key Financial Metrics
Return on equity for TerrAscend Corp. stands at -38.7%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is -6.4%, showing how much profit it generates from its asset base. Its free cash flow yield is 5.2%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.83 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -6.7%, the inverse of the P/E and a quick read on earnings relative to price.
Financial Health
TerrAscend Corp.'s Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of -0.86 places it in the distress zone, a signal of elevated financial risk.
TRSSF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Vertically integrated operations.
- Established brands (Apothecarium, Cookies, Kind Tree).
- Strategic dispensary locations.
- Strong gross margin (51.3%).
Bear Case
- Negative profit margin (-32.1%).
- High beta (2.00) indicating high volatility.
- Reliance on regulatory approvals.
- Limited geographic diversification.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · August 2026
TRSSF Latest News
No recent news available for TRSSF.
Leadership: Ziad Ghanem
CEO
Ziad Ghanem is the CEO of TerrAscend Corp. His background includes extensive experience in the cannabis industry, with a focus on operational excellence and strategic growth. He has a proven track record of building and scaling cannabis businesses, driving revenue growth, and improving profitability. Prior to joining TerrAscend, Ziad held leadership positions at other cannabis companies, where he oversaw cultivation, processing, and retail operations. His expertise in the cannabis industry makes him well-suited to lead TerrAscend through its next phase of growth.
Track Record: Under Ziad Ghanem's leadership, TerrAscend has focused on expanding its retail footprint, strengthening its brand portfolio, and improving its operational efficiency. He has overseen the acquisition and integration of several key assets, including Gage Cannabis, which has significantly expanded TerrAscend's presence in the Michigan market. He has also focused on driving revenue growth and improving profitability through strategic initiatives and cost management.
TRSSF OTC Market Information
The OTC Other tier represents the lowest tier of the OTC market, indicating that TerrAscend Corp. may not meet the minimum financial or disclosure requirements for higher tiers like OTCQX or OTCQB. Companies on the OTC Other tier often have limited information available to investors, and may be subject to less regulatory oversight compared to companies listed on major exchanges like the NYSE or NASDAQ. Investing in companies on the OTC Other tier carries significant risks due to the potential for limited liquidity, lack of transparency, and higher likelihood of fraud or manipulation. Investors should exercise extreme caution and conduct thorough due diligence before investing in OTC Other stocks.
- OTC Tier: OTC Other
- Limited liquidity due to lower trading volumes on the OTC market.
- Lack of transparency due to potentially limited financial disclosures.
- Higher potential for fraud or manipulation compared to listed exchanges.
- Increased volatility due to limited investor participation.
- Regulatory risks associated with the cannabis industry and OTC markets.
- Verify the company's financial statements and audit reports.
- Research the company's management team and their track record.
- Assess the company's business model and competitive landscape.
- Evaluate the company's regulatory compliance and risk management practices.
- Monitor trading volume and bid-ask spreads to assess liquidity.
- Consult with a qualified financial advisor before investing.
- Understand the risks associated with investing in OTC stocks.
- Established operations in multiple states and Canada.
- Presence of well-known brands like Apothecarium and Cookies.
- Vertical integration across the cannabis value chain.
- Experienced management team with industry expertise.
TRSSF Healthcare Stock FAQ
What happened to TerrAscend Corp. (TRSSF) stock?
TerrAscend Corp. (TRSSF) no longer trades on public markets. It was delisted in July 2023. The figures below are historical and are not a current quote.
Can I still buy TRSSF shares?
No. TRSSF stopped trading on public markets in July 2023, so the shares are not available through a broker. Anything you see quoted for TRSSF elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before TRSSF stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to TerrAscend Corp.. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does TerrAscend Corp. do?
TerrAscend Corp. is a vertically integrated cannabis company that cultivates, processes, and sells medical and adult-use cannabis in Canada and the United States. The company operates a network of retail dispensaries under the Apothecarium and Cookies brands, and also owns a portfolio of synergistic brands, including Gage Cannabis, Ilera Healthcare, and Kind Tree.
What are the main risks for TRSSF?
The main risks for TerrAscend Corp. include intense competition from other cannabis companies, the evolving regulatory landscape and potential changes in cannabis laws, fluctuations in cannabis prices affecting profitability, and the potential for an economic downturn impacting consumer spending on cannabis products. Additionally, the company faces risks associated with operating in the OTC market, including limited liquidity and transparency.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based on available data as of 2026-03-16.
- OTC market data may be less reliable than data from major exchanges.
- AI analysis is pending and may provide further insights.