{"id":207,"date":"2026-06-10T18:35:16","date_gmt":"2026-06-10T18:35:16","guid":{"rendered":"https:\/\/phoenixrelocationnews.com\/?p=207"},"modified":"2026-06-10T18:35:16","modified_gmt":"2026-06-10T18:35:16","slug":"get-your-weed-from-trulieve-you-can-now-buy-its-shares-on-the-nyse","status":"publish","type":"post","link":"https:\/\/phoenixrelocationnews.com\/?p=207","title":{"rendered":"Get your weed from Trulieve? You can now buy its shares on the NYSE"},"content":{"rendered":"
\n

Wanna buy weed, but in a Wall Street way? You\u2019re in luck. For the first time ever, consumers can purchase shares of a cannabis company on the New York Stock Exchange beginning Wednesday morning.<\/p>\n

Read more Nazi-salutin\u2019 Deer Valley school board member storms out of meeting<\/a><\/p>\n

On Friday, Florida-based Trulieve, which has 21 dispensaries in Arizona, announced it would become the first U.S. weed company to be approved for an NYSE listing. Prior to Wednesday, when the company was officially listed under the ticker TRLV, the U.S.\u2019s restrictive drug laws had made such a thing impossible. Instead, Trulieve had been traded on the Canadian Securities Exchange since 2018.<\/p>\n

\u201cWe are excited for the opportunity to expand our shareholder base, increase liquidity and raise awareness for the benefits of medical marijuana,\u201d said Trulieve founder and CEO Kim Rivers in a statement. \u201cUplisting to the NYSE is a major advancement for Trulieve and the industry.\u201d\u00a0<\/p>\n

The move is possible because of the Trump administration\u2019s April reclassification of state-licensed medical marijuana from a Schedule I substance to a Schedule III substance. That opened a pathway for cannabis companies \u2014 at least their medical sides \u2014 to be publicly traded in the U.S.<\/p>\n

Following the administration\u2019s move, Trulieve completed a corporate restructuring and took on \u201cinvestment by a third party,\u201d effectively splitting the sides of the business that deal with recreational and medical use. While Trulieve serves both medical and adult-use customers, the recreational marijuana hasn\u2019t been rescheduled. Additional rescheduling hearings will begin at the end of the month, which could result in broader cannabis rescheduling for recreational weed.<\/p>\n

In a phone interview, Arizona Dispensaries Association executive director Ann Torrez called Trulieve\u2019s uplisting a \u201cdefining moment in the cannabis industry.\u201d<\/p>\n

\u201cIt\u2019s apparent to me that this is something that they\u2019ve been thinking about and strategizing for a long time,\u201d Torrez said.<\/p>\n

\n

Will other canna-companies follow suit?<\/h2>\n

Despite the company\u2019s Grand Canyon State locations, Trulieve\u2019s operations weren\u2019t deconsolidated in Arizona. Instead, the company\u2019s uplisting on the NYSE will be driven by medical marijuana operations in Florida, Georgia, Pennsylvania and West Virginia.<\/p>\n

Read more Special prosecutor investigating Maricopa County Recorder employees<\/a><\/p>\n<\/div>\n

Still, Arizona business leaders and marijuana advocates are excited by Trulieve\u2019s move. It\u2019s \u201cpretty darn great,\u201d said Story Cannabis CEO Jason Vedadi, because \u201cnot a lot goes right for this industry\u201d to the point that \u201cwe\u2019re shocked when anything goes right on the federal level.\u201d Vedadi has personally played a role in Trulieve\u2019s growth, serving as executive chairman of Harvest, an Arizona-based cannabis company that Trulieve acquired in 2021 for $2.1 billion.\u00a0<\/p>\n

Demitri Downing, the founder and president of the Arizona Marijuana Industry Trade Association, was also excited. \u201cThere\u2019s a lot of people who I have advised to buy Trulieve stock when it was Canadian at $3 to $6, who better be taking me to some nice steak dinners,\u201d he quipped. Among those people is Downing\u2019s mother.<\/p>\n

Vedadi predicts that the cannabis company\u2019s debut on the NYSE will likely bring \u201cmassive amounts\u201d of money into the industry, as institutions and hedge funds will now see cannabis as a viable investment. When cannabis was on the junior exchange in Canada, it didn\u2019t interest the heavyweights of the finance world.<\/p>\n

\u201cThe framework of the entire industry changes with this, like overnight,\u201d Vedadi said. \u201cThis kind of opens the world to investing in those businesses. It\u2019s only a matter of time before banks are going to come in, no matter what.\u201d\u00a0<\/p>\n

Before following in Trulieve\u2019s footsteps, some cannabis companies are likely waiting until the next set of rescheduling hearings, which begin at the end of the month and continue until August. That could result in the rescheduling of recreational weed as well, which wouldn\u2019t require so much corporate restructuring for cannabis companies hot after a stock exchange listing. Vedadi said that\u2019s something Story Cannabis has considered, but because Story is a mid-sized company, he\u2019d want to do it in conjunction with another company because \u201cit\u2019s going to require a certain level of scale.\u201d<\/p>\n

\n

But Torrez said several major players are right on Trulieve\u2019s heels. That includes Curaleaf, a dispensary with 16 locations in the Valley, and Verano, a product-based company that has eight dispensaries in Arizona through its ownership of Zen Leaf. Both are working to change their corporate structures to prepare for a potential uplist.<\/p>\n

\u201cIt\u2019s not a matter of \u2018Are they going to do it?\u2019\u201d Torrez said. \u201cThey\u2019re doing it.\u201d\u00a0<\/p>\n

Read more ASU moves to seize, raze historic Phoenix home to build medical school<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

With medical weed deregulated, Trulieve is the first cannabis company to be listed on the New York Stock Exchange.<\/p>\n","protected":false},"author":1,"featured_media":206,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marijuana"],"yoast_head":"\nGet your weed from Trulieve? You can now buy its shares on the NYSE - Phoenix Relocation News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/phoenixrelocationnews.com\/?p=207\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Get your weed from Trulieve? 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