Trulieve Cannabis Corp (TCNNF) stock has risen 37.02% over the past week and gets a Bullish rating from InvestorsObserver’s Sentiment Indicator.
What is Stock Sentiment?
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What’s Happening With TCNNF Stock Today?
Trulieve Cannabis Corp (TCNNF) stock is trading at $25.80 as of 2:07 PM on Friday, Aug 14, an increase of $3.03, or 13.31% from the previous closing price of $22.77. The stock has traded between $22.77 and $26.50 so far today. Volume today is more active than usual. So far 615,447 shares have traded compared to average volume of 357,500 shares.
More About Trulieve Cannabis Corp
Trulieve Cannabis Corp is a vertically integrated seed to sale and fully licensed medical marijuana company. It is mainly engaged in the cultivation, possession, use, sale, and distribution of medical cannabis.