Trulieve Cannabis (NYSE:TRLV) Sees Unusually-High Trading Volume – Still a Buy?

Trulieve Cannabis Corp. (NYSE:TRLV) shares saw unusually-high trading volume on Tuesday . 853,550 shares traded hands during mid-day 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

TRLV has been the subject of several research reports. Zacks Research upgraded shares of Trulieve Cannabis to a “hold” rating in a research note on Thursday, June 18th. Weiss Ratings started coverage on shares of Trulieve Cannabis in a research note on Tuesday, June 16th. They issued a “sell (d-)” rating on the stock. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Trulieve Cannabis Stock Performance

Insiders Place Their Bets

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

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.