Jhala Nilyum, the Chief Technology Officer of Trulieve Cannabis (OTC:TCNNF) Corp. (CSE:TRUL), recently acquired a total of 6,000 subordinate voting shares in a series of transactions. The shares were purchased on three separate occasions between November 8 and November 12, 2024. The purchase prices ranged from $5.70 to $6.98 per share, totaling approximately $37,670.
These transactions were conducted indirectly by Nilyum's spouse. Following these acquisitions, the total number of shares owned by Nilyum stands at 114,778. The purchases reflect a continued investment in Trulieve Cannabis, a company known for its focus on medicinal chemicals and botanical products.
InvestingPro Insights
The recent insider purchases by Trulieve Cannabis Corp.'s CTO, Jhala Nilyum, come at a time when the company's stock has faced significant challenges. According to InvestingPro data, Trulieve's stock price has fallen dramatically over the past year, with a 99.0% decline in the one-year price total return. This downward trend has continued in recent months, with a 99.9% drop in the three-month price total return.
These insider purchases could be seen as a vote of confidence in the company's future prospects, despite the current market sentiment. However, investors should be aware of some potential risks highlighted by InvestingPro Tips. The stock generally trades with high price volatility, which may explain the recent sharp declines. Additionally, Trulieve suffers from weak gross profit margins and does not pay a dividend to shareholders, which could be factors contributing to investor hesitation.
It's worth noting that the company's average daily trading volume over the past three months has been relatively low at 0.07 million USD, which may impact liquidity for investors looking to trade larger positions.
For a more comprehensive analysis, InvestingPro offers additional tips and insights that could be valuable for investors considering Trulieve Cannabis Corp. In fact, there are 8 additional tips available on the InvestingPro platform, providing a deeper understanding of the company's financial health and market position.
Jhala Nilyum, the Chief Technology Officer of Trulieve Cannabis Corp. (CSE:TRUL), recently acquired a total of 6,000 subordinate voting shares in a series of transactions. The shares were purchased on three separate occasions between November 8 and November 12, 2024. The purchase prices ranged from $5.70 to $6.98 per share, totaling approximately $37,670.
These transactions were conducted indirectly by Nilyum's spouse. Following these acquisitions, the total number of shares owned by Nilyum stands at 114,778. The purchases reflect a continued investment in Trulieve Cannabis, a company known for its focus on medicinal chemicals and botanical products.
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