Trulieve Cannabis (NYSE:TRLV) Stock Price Down 5.5% – Should You Sell?

Trulieve Cannabis Corp. (NYSE:TRLV)’s share price dropped 5.5% during mid-day trading 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 equities analysts have commented on the stock. Weiss Ratings began coverage on shares of Trulieve Cannabis in a research note on Tuesday, June 16th. They issued a “sell (d-)” rating for the company. Zacks Research upgraded Trulieve Cannabis to a “hold” rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Trulieve Cannabis presently has a consensus rating of “Reduce”.

Trulieve Cannabis Price Performance

Insider Activity at Trulieve Cannabis

In other Trulieve Cannabis news, CEO Kim A. Rivers sold 136,811 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $8.76, for a total value of $1,198,464.36. Following the sale, the chief executive officer directly owned 1,476,913 shares of the company’s stock, valued at approximately $12,937,757.88. This represents a 8.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,699,007 shares of company stock valued at $14,661,355. Corporate insiders own 3.79% of the company’s stock.

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.