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What’s Next for Green Thumb Industries Inc (OTCMKTS:GTBIF)

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After rebounding sharply off the 200-day simple moving average in late December, Green Thumb Industries Inc (OTCMKTS:GTBIF) shares have powered higher in step with the broad market and the cannabis space to kick off a powerful Q1 trade. Helping to fuel the action, the company has added some talent to the team. Specifically, the company just announced two key executive team hires: Matt Miller as General Counsel and Kate Denton as Senior Vice President, Marketing.

“As we continue to rapidly expand our national presence, adding top-notch leadership with valuable expertise is critical in supporting our long-term strategic goals,” said GTI Founder and Chief Executive Officer Ben Kovler. “Matt’s extensive legal and business experience with a high-growth public company and Kate’s successful career in branding and consumer packaged goods are tremendous assets for GTI. We continue to position ourselves for the future – and building a world-class team remains a high priority.”

Green Thumb Industries Inc (OTCMKTS:GTBIF) bills itself as a company that manufactures and sells various cannabis products in the United States. The company’s cannabis products include flower, concentrates for dabbing and vaporizing, edibles, and topicals.

The company markets its products through third-party retailers. It also owns and operates a chain of 50 retail stores under the RISE dispensaries name. The company was founded in 2014 and is headquartered in Chicago, Illinois.

According to company materials, “Green Thumb Industries (GTI), a national cannabis cultivator, processor and dispensary operator, is dedicated to providing dignified access to safe and effective cannabis nationwide while giving back to the communities in which they serve. As a vertically integrated company, GTI manufactures and sells a well-rounded suite of branded cannabis products including flower, concentrates, edibles, and topicals. The company also owns and operates a rapidly growing national chain of retail cannabis stores called RISE(TM) dispensaries. Headquartered in Chicago, Illinois, GTI has seven manufacturing facilities and licenses for 50 retail locations across seven highly regulated U.S. markets. Established in 2014, GTI employs more than 350 people and serves hundreds of thousands of patients and customers each year. GTI was named a Best Workplace 2018 by Crain’s Chicago Business.”

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As noted above, GTBIF just announced two key executive team hires: Matt Miller as General Counsel and Kate Denton as Senior Vice President, Marketing. In all, the chart shows 32% during the past month in terms of shareholder gains in the listing.

“I am thrilled to join GTI during such a high-growth period,” said Miller. “GTI is a clear industry leader and this is an exciting opportunity to help build the next chapters of the GTI story while navigating novel legal issues and helping to shape this industry.”

Moreover, the listing has registered increased average transaction volume recently, with the past month seeing 16% beyond what we have been seeing over the larger time frame. It pays to take note of this fact with a float in play that’s relatively small — of 18M shares.

“GTI’s commitment to building high quality branded consumer packaged goods and the team’s intense focus on customers and community makes the company the industry leader,” said Denton. “I am excited to continue to build the current brand portfolio while launching new, innovative products as we strategically expand and scale the business.”

Currently trading at a market capitalization of $2.04B, GTBIF has about $112M in cash on the books, which stands against about $9.3M in total current liabilities. The company has pulled in about $14M in revenues on a TTM basis. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $GTBIF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $GTBIF, either long or short, and we have not been compensated for this article.

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