I’ve been watching $TRUL (-1.63%) for a while, and the stock has reminded me why cannabis names aren’t for the faint-hearted. For most of the year, TCNNF was beaten down, trading near its lows while sentiment around the entire sector stayed weak. It felt like one of those stocks the market had almost given up on.

The recent move was sharp and unexpected. Trulieve pushed close to the $10 level in a short time, marking one of its strongest rallies in a long while. When you zoom out, that jump makes sense. This is a stock that spent much of the year closer to $3–$5, so the bounce was aggressive, almost like the market waking up all at once.

Fundamentally, Trulieve never really disappeared. The company has continued to generate solid revenue and cash flow, even while dealing with heavy taxes and industry pressure. They’ve also been working on their balance sheet, paying down debt and tightening operations. That doesn’t always show up in price right away, but it matters.

The way I see it, this stock is still very volatile. Big green days can be followed by pullbacks just as fast. But the recent strength suggests investors are starting to reprice the risk, especially if U.S. cannabis reform stays in the conversation.

Trulieve feels like one of those names where patience has been tested, but when momentum returns, it doesn’t come quietly. Whether this move holds or fades will say a lot about how serious the market is about cannabis again.