In a recent stock transaction, Thomas L. Millner, a director at Trulieve Cannabis (OTC:TCNNF) Corp. (CSE:TRUL), purchased 8,000 subordinate voting shares of the company. The shares were acquired at a price of $6.12 per share, totaling approximately $48,960. Following this transaction, Millner now holds 30,495 shares directly. This move indicates a significant personal investment in the company, reflecting confidence in Trulieve's future prospects.
InvestingPro Insights
While Thomas L. Millner's recent purchase of Trulieve Cannabis Corp. shares may signal confidence, InvestingPro data reveals some challenging metrics for the company. Trulieve's stock has experienced a staggering 99.9% decline in the past three months, indicating significant market pressure. This aligns with an InvestingPro Tip highlighting that the stock generally trades with high price volatility.
The average daily trading volume for Trulieve over the past three months stands at 0.07 million USD, suggesting relatively low liquidity. This could be a factor contributing to the stock's price volatility.
InvestingPro Tips also point out that Trulieve suffers from weak gross profit margins and does not pay a dividend to shareholders. These factors, combined with the recent price performance, may explain why the company's valuation implies a poor free cash flow yield.
For investors considering Trulieve, it's worth noting that InvestingPro offers 7 additional tips that could provide further insights into the company's financial health and market position. These additional tips could be particularly valuable given the stock's recent performance and the complexities of the cannabis industry.
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