Federal changes to cannabis classification have ushered in a new era for the industry. On June 5, the major cannabis company Trulieve announced its entry into the New York Stock Exchange (NYSE). Previously barred by U.S. restrictions, Trulieve stocks had been traded on the Canadian Securities Exchange (CSE) and continued to do so until June 9.
“As the first U.S. cannabis company to list on a major U.S. exchange, we are excited for the opportunity to expand our shareholder base, increase liquidity, and raise awareness for the benefits of medical marijuana. Common-sense action by President Trump to reclassify medical marijuana to Schedule III paved the way for this historic milestone,” said Kim Rivers, founder and CEO of Trulieve, in a recent press release. “Uplisting to the NYSE is a major advancement for Trulieve and the industry.”
After medical marijuana was rescheduled, Trulieve consolidated its operations to exist solely in markets that serve both medical and recreational customers. This ensured a market structure that was in closer alignment with the federal reclassification of medical cannabis.
“Since its inception, Trulieve has focused on serving medical patients with compassion, care and high quality products,” Rivers continued. “With robust cash generation and meaningful catalysts ahead including expansion in Georgia and Texas, Trulieve is well-positioned to deliver on our promise to increase access to medical cannabis for U.S. patients.”
Trading of Trulieve stocks began on June 10, and will be listed under the symbol “TRLV.”
