Trulieve Cannabis Corp. has been added to two broad S&P equity indices, giving the marijuana company greater exposure to investors and investment funds that track U.S. markets.
Trulieve announced Tuesday that it has joined the S&P Total Market Index and S&P Completion Index, along with their respective health care sector sub-indices, the S&P TMI Health Care and S&P CI Health Care.
The S&P Total Market Index is designed to track a broad range of U.S. companies that meet S&P Dow Jones Indices’ eligibility requirements. The S&P Completion Index consists of companies included in the Total Market Index but outside the S&P 500.
The additions come after Trulieve completed its domestication to the United States and began trading on the New York Stock Exchange under the ticker symbol TRLV.
“Trulieve’s addition to S&P indices represents another important step forward following Trulieve’s listing on the New York Stock Exchange and domestication to the U.S.,” said Trulieve Chief Executive Officer Kim Rivers. “Index inclusion raises visibility for Trulieve, ultimately improving liquidity and attracting new institutional investors.”
Index inclusion can increase a company’s exposure to institutional investors because funds and other investment products designed to track an index may purchase shares of companies included in it. Inclusion in the S&P Total Market Index or Completion Index does not mean a company has been added to the S&P 500.
Trulieve is one of the largest marijuana companies operating in the United States, with established medical marijuana operations in Florida, Georgia, Pennsylvania and West Virginia. The company operates a vertically integrated model encompassing cultivation, processing and retail sales.
The company has particularly extensive operations in Florida, where it is one of the state’s largest medical marijuana operators.
