Trulieve Cannabis Execs Buy 26K Company Shares: What Does This Mean For Investors?
Trulieve Cannabis Corp. (OTC:TCNNF, CSE:TRUL) executives recently purchased 26,000 shares, signaling potential confidence in the company’s future. Between November 8 and 13, COO Marie Zhang, CPO Kyle Landrum, and CLO Eric Powers increased their holdings, according to a report by Beacon Securities.
Zhang made the largest move, acquiring 21,300 shares at an average price of $7.19, adding $153,147 of an estimated total of around $186.000. What does this mean for investors? Is the stock undervalued?
Stock Decline
Trulieve’s stock has dropped sharply in recent weeks, trading at around $6.34 after peaking at $14 in mid-October. The decline follows two major setbacks: the failure of Florida’s cannabis legalization ballot and heightened political uncertainty tied to Donald Trump’s election victory.
These setbacks created an election gapt hat the stock has yet to close.
There’s a reason why those events had a significant impact on the company. Florida is the company’s largest market, and the ballot’s failure denied an opportunity to double the size of …