Trulieve Makes History as First U.S. Cannabis Company to Trade on NYSE

In a landmark moment for the U.S. cannabis industry, Trulieve Cannabis Corp. has become the first American cannabis company to list its shares on the New York Stock Exchange. The Tallahassee,Florida-based operator's subordinate voting shares began trading under the ticker symbol TRLV on June 10, 2026, marking a significant milestone long anticipated by investors and industry participants.

The uplisting comes after the company restructured to focus exclusively on state-licensed medical marijuana operations,separating adult-use assets to meet NYSE requirements. This strategic move was facilitated by the federal rescheduling of medical marijuana to Schedule III in April 2026, which opened pathways for DEA registration and greater mainstream financial access.

Trulieve, a leading vertically integrated multi-state operator, boasts a robust footprint with approximately206 dispensaries and over 3.5 million square feet of cultivation space across key markets including Florida, Pennsylvania, Georgia,and West Virginia. The company reported strong first-quarter 2026results, with $287 million in revenue and positive net income,underscoring its position as one of the most profitable players in the sector.

Kim Rivers, Trulieve's founder, chairman, and CEO,has been instrumental in navigating the company through regulatory and political challenges. A Florida native with a background in law and business, Rivers earned her bachelor's degree from Florida State University and her Juris Doctor from the University of Florida. She previously practiced as a securities and mergers & acquisitions attorney before founding Trulieve in 2015.

"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," Rivers said in a statement. "Common sense action by President Trump to reclassify medical marijuana to Schedule III paved the way for this historic milestone. Uplisting to the NYSE is a major advancement for Trulieve and the industry."

The listing is expected to attract new institutional and retail investors who were previously hesitant due to the company's prior trading on the Canadian Securities Exchange(TRUL) and OTCQX (TCNNF). Existing shareholders do not need to take action, as their shares transition seamlessly. In a show of confidence, Trulieve's board authorized a share repurchase program of up to $50 million or 5% of subordinate voting shares.

For shareholders and investors, this development signals maturing legitimacy for the cannabis sector. Long restricted from major U.S. exchanges amid federal prohibition concerns,companies like Trulieve can now tap deeper capital markets,potentially fueling expansion, innovation, and job growth in regulated states. Shares debuted around $11.78 and closed their firstday at $11.50 amid moderate volume.

Industry observers view Trulieve's achievement as a bellwether. With Rivers at the helm, the company has grown from a single dispensary to a powerhouse generating over $1.2 billion in annual sales. Analysts anticipate increased visibility and liquidity could drive further valuation upside as federal reforms progress.

This NYSE debut not only validates Trulieve's disciplined approach but also spotlights the broader shift toward acceptance of medical cannabis. As more operators eye similar uplistings, Trulieve sets a precedent for how strategic restructuring and advocacy can bridge the gap between state-legal businesses and traditional Wall Street.