Trulieve Cannabis (NYSE:TRLV) Sees Large Volume Increase – Here’s Why

Trulieve Cannabis Corp. (NYSE:TRLV) saw unusually-high trading volume on Tuesday . 853,550 shares changed hands during trading, an increase of 61% from the previous session’s volume of 529,446 shares.The stock last traded at $8.5190 and had previously closed at $9.12.

Analyst Ratings Changes

A number of research analysts have weighed in on TRLV shares. Zacks Research raised shares of Trulieve Cannabis to a “hold” rating in a report on Thursday, June 18th. Weiss Ratings assumed coverage on shares of Trulieve Cannabis in a research note on Tuesday, June 16th. They set a “sell (d-)” rating on the stock. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

Trulieve Cannabis Stock Performance

Insider Activity

In related news, CEO Kim A. Rivers sold 204,815 shares of Trulieve Cannabis stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $9.35, for a total value of $1,915,020.25. Following the sale, the chief executive officer owned 2,693,724 shares of the company’s stock, valued at approximately $25,186,319.40. This trade represents a 7.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 482,196 shares of company stock worth $4,525,291.

Trulieve Cannabis Company Profile

Trulieve Cannabis Corp. is a vertically integrated cannabis company focused on the cultivation, processing, and retail sale of medical and adult-use cannabis products. The company offers a range of products that may include flower, pre-rolls, concentrates, edibles, vape products, and topicals through its dispensary network and branded product portfolio.

Trulieve’s operations have been centered primarily in the United States, with a strong presence in Florida and additional markets in other states where cannabis is legally regulated.