Trulieve Cannabis Co., Florida’s largest marijuana provider and one of the biggest in the nation, was approved for listing on the New York Stock Exchange (NYSE).
Voting shares began trading on the NYSE floor under the ticker symbol TRLV on Wednesday morning.
It is the first U.S. cannabis company to list on the NYSE.
Acting Attorney General Todd Blanche reclassified medical marijuana to Schedule III in April, opening a pathway for Drug Enforcement Administration (DEA) registration for state licensed medical marijuana companies. The classification means a drug has some medical use and a moderate to low potential for physical and psychological dependence.
“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,” Kim Rivers, Trulieve founder and CEO, said in a press release. “Uplisting to the NYSE is a major advancement for Trulieve and the industry.”
Trulieve provided the financial muscle in 2024 to fund Smart & Safe Florida, the advocacy group that worked to place recreational cannabis on the ballot. The measure received nearly 56% support, short of the 60% required for passage.
The company came back last year to fund a similar effort to get the issue on the ballot this November, but the Florida Supreme Court ended that push in March when it declined to rehear Smart & Safe’s lawsuit against Secretary of State Cord Byrd. That lawsuit challenged a directive by Byrd to invalidate more than 70,000 petition signatures collected by the campaign.
Trulieve has been listed on the Canadian Stock Exchange since 2018, but will no longer do so following the close of the market on Tuesday.
This article was republished from the Florida Phoenix under Creative Commons license CC BY-NC-ND 4.0. You can read the original version here.
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