Trulieve Cannabis: First NYSE-Listed Cannabis Stock Is A Buy

Trulieve Cannabis is the first U.S. cannabis operator to uplist to the NYSE, unlocking broader investor access and liquidity. Recent catalysts include a $50 million share repurchase program and a profitable Q1 2026 with $42 million in free cash flow. Reclassification of medical marijuana to Schedule III removes the 280E tax burden, providing a major earnings and cash flow tailwind for TRLV. I rate TRLV a BUY, citing regulatory tailwinds, strong financials, scale advantages, and a discounted 5–6x EBITDA valuation.

Trulieve Cannabis (TRLV) is quite an interesting name and a stock I've had my eyes on for a while now—after my initial purchases of NewLake Capital (NLCP) and