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Is Green Thumb Industries Inc (OTCMKTS:GTBIF) Ready for Take-off?

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The pullback in Green Thumb Industries Inc (OTCMKTS:GTBIF) over recent days is interesting and could represent a potential opportunity as the stock checks support in the region of the 50-day MA, which is sitting right around $14/share. To make matters significantly more interesting, the company just announced its financial results for the fourth quarter and full year ended December 31, 2018, showing total revenue for the fourth quarter of 2018 increased 237% year-over-year to $20.8 million, and  fourth quarter sequential growth was 21%, with total revenue for 2018 increasing 278% year-over-year to $62.5 million.

According to the release, “Fourth quarter 2018 EBITDA and Adjusted EBITDA, as described in an accompanying financial table, was a loss of $4.8 million and  $12.4 million, respectively. For the year, EBITDA and Adjusted EBITDA was $27.7 million and $21.5 million, respectively, driven primarily by gains in net asset value from strategic investments.”

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 its financial results for the fourth quarter and full year ended December 31, 2018, showing total revenue for the fourth quarter of 2018 increased 237% year-over-year to $20.8 million, and  fourth quarter sequential growth was 21%, with total revenue for 2018 increasing 278% year-over-year to $62.5 million.

Traders will note 4% tacked on to share pricing for the company in the past month. What’s more, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running 63% beyond its prior sustained average level.

“2018 was a momentous year for GTI. In just six months following our RTO in June and in the beginning of 2019, we have expanded the infrastructure for our consumer products and retail businesses to now include 13 production facilities and the ability to open 88 retail locations across 12 states including pending acquisitions.  At the same time, we have built an incredible team that is over 500 strong to support our strategy to distribute brands at scale. With the growth of our branded product distribution, new store openings and adult-use markets coming on line, we are very pleased to have more than tripled our revenues from one year ago both year-over-year and quarter-over-quarter,” said GTI Founder and Chief Executive Officer Ben Kovler.

Currently trading at a market capitalization of $2.87B, 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. As more color becomes clear on the name, we will review the situation and update our take. 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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