Trulieve Cannabis (NYSE:TRLV) Stock Price Down 5.5% – What’s Next?

Shares of Trulieve Cannabis Corp. (NYSE:TRLV) fell 5.5% on Monday . The stock traded as low as $9.21 and last traded at $9.24. Approximately 399,450 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 597,948 shares. The stock had previously closed at $9.78.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TRLV. Weiss Ratings started coverage on shares of Trulieve Cannabis in a research report on Tuesday, June 16th. They set a “sell (d-)” rating for the company. Zacks Research upgraded shares of Trulieve Cannabis to a “hold” rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Trulieve Cannabis Trading Up 0.1%

Insider Activity

In other news, CEO Kim A. Rivers sold 400,000 shares of Trulieve Cannabis stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $8.17, for a total value of $3,268,000.00. Following the transaction, the chief executive officer owned 1,913,724 shares in the company, valued at approximately $15,635,125.08. The trade was a 17.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,699,007 shares of company stock worth $14,661,355 over the last quarter. 3.79% of the stock is currently owned by company insiders.

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.