Trulieve Becomes First U.S. Cannabis Firm on NYSE, Shares Jump 4%
MSOS•Trulieve uplisted to the NYSE on June 10 as the first U.S. plant-touching cannabis company on a major exchange, with shares opening at $12 and jumping 4%. The listing follows medical cannabis’ shift to Schedule III, segregates medical from recreational assets and underscores TRLV’s 30-40% stake in Florida’s medical market.
1. Landmark NYSE Uplisting
Trulieve completed its NYSE uplisting on June 10 under the TRLV ticker, marking the first listing of a U.S. plant-touching cannabis company on a major exchange.
2. Share Price Reaction
Shares opened at $12 per share and spiked 4% during the morning session before stabilizing shortly thereafter.
3. Regulatory Catalyst
The uplisting follows the DEA’s reclassification of medical cannabis to Schedule III, with an upcoming June 29 hearing to consider similar relief for recreational products.
4. Asset Structure and Market Share
Trulieve separated its medical and recreational businesses to meet listing requirements, positioning TRLV with 30-40% of Florida’s medical cannabis revenue while excluding recreational profits from its balance sheet.
