Marijuana Company Trulieve Begins Trading on NYSE
The listing gives investors their first chance to buy shares of a U.S. cannabis company on the exchange, after a federal rescheduling change opened the door.
- On Wednesday, Florida-based Trulieve became the first U.S. cannabis company to list on the New York Stock Exchange under ticker TRLV, ending its prior trading on the Canadian Securities Exchange since 2018.
- The listing follows the Trump administration's April reclassification of medical marijuana from Schedule I to Schedule III, enabling Trulieve to restructure and split its medical and recreational operations.
- Story Cannabis CEO Jason Vedadi called the shift "pretty darn great," while Arizona Dispensaries Association executive director Ann Torrez described the uplisting as a "defining moment in the cannabis industry."
- Vedadi predicts the debut will bring "massive amounts" of money into the industry, as institutions and hedge funds now view cannabis as a viable investment opportunity.
- Ahead of upcoming federal rescheduling hearings beginning at month's end, competitors Curaleaf and Verano are preparing for potential uplisting as recreational cannabis rescheduling could simplify future listings.
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Trulieve Stock Turns Heads on NYSE After $50 Million Buyback
Trulieve began NYSE trading as TRLV this week after moving from OTC/CSE, authorized a buyback of up to $50 million or 8.5 million shares, and closed its first NYSE session at $11.50, down 0.43%, before trading near $11.78 early Thursday, as investors weigh whether the uplisting and buyback will boost demand amid ongoing federal cannabis policy uncertainty. The post Trulieve Stock Turns Heads on NYSE After $50 Million Buyback appeared first on Te…
Trulieve debuts on NYSE
Florida-based MSO Trulieve went public on the New York Stock Exchange in an important first for the licensed cannabis industry. The move follows the Trump administrations rescheduling of MED to a schedule III substance under the Controlled Substances Act and comes weeks before DEA hearings are set to begin on rescheduling REC. Trulieve CEO Kim Rivers has gained a reputation as the industry's "Trump whisperer." His unexpected decision to reschedu…
Trulieve Breaks Ground with NYSE Cannabis Listing
Trulieve Cannabis (CSE:TRUL,OTCQX:TCNNF) has secured approval to list its subordinate voting shares on the New York Stock Exchange (NYSE), marking the first time a US plant-touching marijuana operator has gained access to a major domestic equity market.Major US exchanges have historically barred cannabis operators due to the drug's status as a Schedule I controlled substance. To clear the compliance hurdles required by the NYSE, Trulieve execute…
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