Insider Selling: Trulieve Cannabis (NYSE:TRLV) CEO Sells $2,451,000.00 in Stock

Trulieve Cannabis Corp. (NYSE:TRLV) CEO Kim Rivers sold 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $8.17, for a total value of $2,451,000.00. Following the sale, the chief executive officer owned 1,613,724 shares of the company’s stock, valued at approximately $13,184,125.08. This trade represents a 15.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Trulieve Cannabis Stock Performance

TRLV stock opened at $8.93 on Friday. Trulieve Cannabis Corp. has a 52-week low of $3.50 and a 52-week high of $13.28.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TRLV shares. Weiss Ratings began coverage on shares of Trulieve Cannabis in a report on Tuesday, June 16th. They issued a “sell (d-)” rating on the stock. Zacks Research raised shares of Trulieve Cannabis to a “hold” rating in a 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. According to MarketBeat, Trulieve Cannabis currently has an average rating of “Reduce”.

Trulieve Cannabis News Roundup

Here are the key news stories impacting Trulieve Cannabis this week:

• Negative Sentiment: CEO Kim Rivers sold 136,811 shares for about $1.2 million, adding to concerns that management may be taking advantage of the stock’s recent strength. Trulieve CEO Sells $1.2 Million in Stock as Shares Jump 148% in One Year
• Neutral Sentiment: Multiple reports highlighted additional CEO stock sales from earlier in the week, including 300,000 shares on June 25 and 400,000 shares on June 24, reinforcing the theme of heavy insider selling. Insider Selling: Trulieve Cannabis (NYSE:TRLV) CEO Sells $2,451,000.00 in Stock
• Neutral Sentiment: Trulieve announced the planned termination of an executive automatic securities disposition plan, which may simply reflect a change in future insider-sale mechanics rather than a direct change in fundamentals. Trulieve Announces Planned Termination of Executive Automatic Securities Disposition Plan
• Neutral Sentiment: Investor commentary also noted Trulieve among “promising” or “best” cannabis stocks to watch, but these mentions were broad sector pieces and did not include a company-specific catalyst. Promising Cannabis Stocks To Follow Today – June 26th

About Trulieve Cannabis

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.