Shares of Green Thumb Industries Inc (OTCMKTS:GTBIF) broke out to the upside to close out last week in the context of a bullish consolidation in what appears to be a new uptrend in formation in the stock. To help further flesh out the narrative, the company just announced that it welcomed the local community to an open house at RISE Deerfield Beach on January 29 for a tour of its store and a meet-and-greet with its local team to find out more about Florida’s medical marijuana program.
“At GTI, our mission is to offer safe and effective products to help improve wellness and quality of life,” said GTI Founder and Chief Executive Officer Ben Kovler. “Our RISE™ stores provide exceptional customer care and we’re honored to begin serving the people of Deerfield Beach and look forward to being active members of the community.”
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 that it welcomed the local community to an open house at RISE Deerfield Beach on January 29 for a tour of its store and a meet-and-greet with its local team to find out more about Florida’s medical marijuana program.
Traders will note 33% during the past month in terms of shareholder gains in the company. Furthermore, the listing has benefitted from a jump in recent trading volume to the tune of 21% over what the stock has registered over the longer term. This is particularly important due to the tight float size in the stock (of 18M shares).
“Medical cannabis has personally transformed my life and helps to alleviate the chronic pain I experience from my time playing professional football,” said Monroe, who was an offensive tackle for the Jacksonville Jaguars from 2009 to 2013. “I’m thrilled that GTI is expanding to Florida to bring additional relief to patients and that we continue to educate the public about the benefits of cannabis and its role in curbing our country’s opioid epidemic.”
Earning a current market cap value of $2.09B, 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 is an exciting story, and we look forward to a follow-up chapter as events transpire. 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.