Trulieve Cannabis (NYSE:TRLV) Shares Down 5.5% – Here’s Why

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on TRLV shares. Zacks Research upgraded shares of Trulieve Cannabis to a “hold” rating in a report on Thursday, June 18th. Weiss Ratings initiated coverage on shares of Trulieve Cannabis in a research note on Tuesday, June 16th. They set a “sell (d-)” rating for the company. One equities 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, Trulieve Cannabis currently has an average rating of “Reduce”.

Trulieve Cannabis Price Performance

Insider Buying and Selling

In other Trulieve Cannabis 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 completion of the transaction, the chief executive officer directly owned 1,913,724 shares of the company’s stock, valued at $15,635,125.08. The trade was a 17.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,699,007 shares of company stock worth $14,661,355. Company insiders own 3.79% of the company’s stock.

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.