NEW YORK, June 5, 2026, 10:03 EDT
- Curaleaf did a 1-for-3 reverse stock split Friday. The split raised the per-share price, but did not affect the company’s overall value.
- Curaleaf is making the move to stay ready in case it can uplist to a U.S. exchange.
- Peer Trulieve said Friday its stock will start trading on the NYSE on June 10.
Curaleaf Holdings’ shares in Toronto began trading post-split on Friday, offering investors a new read on the cannabis firm’s ambitions for a bigger U.S. listing. CURA changed hands at C$15.88 around midday, bouncing in a range from C$14.73 to C$16.00, Investing.com data showed.
Timing is in focus. Curaleaf’s move came just after Trulieve Cannabis announced its subordinate voting shares will list on the New York Stock Exchange, with trading set to start June 10 under “TRLV”. Trulieve CEO Kim Rivers called the listing a “major advancement for Trulieve and the industry.” Investors – Trulieve
Curaleaf is moving ahead with a reverse stock split, combining every three old shares into one new share. The move lifts the trading price per share but doesn’t change the company’s value by itself. Curaleaf said the split will cut its subordinate voting shares to about 232.9 million from 698.7 million. The stock will stay on the TSX under CURA, but with a new CUSIP number.
Curaleaf said it carried out the reverse split to hit the price levels needed for a U.S. exchange listing, stay above the minimums set by some retail brokerages, and make the stock more accessible for institutional investors. Chairman and CEO Boris Jordan called it another move in Curaleaf’s “long-term effort” to get onto a major U.S. exchange. Curaleaf Investor Relations
Cannabis stocks jumped against a soft broader market. The S&P/TSX Composite Index in Canada dropped 0.7% after jobs data, sparking more rate jitters. AdvisorShares Pure U.S. Cannabis ETF climbed 6.3% to $5.42, and Tilray Brands added 2.1% at $5.30.
Shares of other U.S. cannabis operators moved higher. Google Finance showed Green Thumb Industries at $8.50. Trulieve’s U.S. OTC shares jumped. The quick move around the listing issue is now a competitive signal for bigger operators.
Policy moves are still driving the story. In April, U.S. regulators moved FDA-approved and state-licensed medical marijuana to Schedule III, a lighter category. That’s relevant for Section 280E, a tax rule that blocks business deductions for firms with Schedule I or II drugs. Reuters said the change was narrower than some investors expected. CB1 Capital’s Todd Harrison told Reuters the process “confused some people.” AdvisorShares’ Dan Ahrens called some of the price action a “sell the news” move. Reuters
Curaleaf heads into this period with stronger earnings than in previous quarters. The company reported first-quarter revenue at $324.2 million, a 6% gain from last year. Net income from continuing operations came in at $70.1 million, and Curaleaf posted adjusted EBITDA of $63.4 million. Adjusted EBITDA strips out interest, taxes, depreciation, amortization and some other items.
The split didn’t close the chapter for Curaleaf. The company still hasn’t reported an approval for a big U.S. listing. Cannabis names in the sector are also dealing with regulatory setbacks, thin trading in some OTC stocks, and the unresolved gap between medical relief and the smaller adult-use market.
Curaleaf has bumped up the ticket price, shifting focus from math to market access. Investors are watching to see if the stock clears the same hurdle Trulieve did.
