Green Thumb Industries Inc (OTCMKTS:GTBIF) Launches Higher in Breakout Move

Green Thumb Industries Inc (OTCMKTS:GTBIF) Launches Higher in Breakout Move

SHARE

It may be important to note that Green Thumb Industries Inc (OTCMKTS:GTBIF) just announced that it opened Essence South Rainbow, on May 13, the fourth Essence store in the Las Vegas area and GTI’s 44th retail location in the nation.

According to the release, in addition to its retail business in Nevada, GTI owns three wholesale manufacturing sites in Nevada where it makes its branded products including Cannabiotix, Desert Grown Farms, Dogwalkers, incredibles and Rythm. GTI also has licenses to open seven more retail stores in the state. Essence South Rainbow offers pre-order for in-store pickup, curbside pickup and delivery. Customers can learn more by visiting EssenceVegas.com. Essence South Rainbow is located at 7260 South Rainbow Boulevard and open daily from 8:00 am to 5:00 pm, with extended hours to come.

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.”

Find out when $GTBIF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, GTBIF just announced that it opened Essence South Rainbow, on May 13, the fourth Essence store in the Las Vegas area and GTI’s 44th retail location in the nation.

The chart shows 63% during the past month in terms of shareholder gains in the company. What’s more, the company has registered increased average transaction volume recently, with the past month seeing 71% beyond what we have been seeing over the larger time frame.

“We are thrilled to open the fourth Essence store in the Las Vegas area and the first new Essence location since the latest round of license awards,” said GTI Founder and Chief Executive Officer Ben Kovler. “We have expanded our service model to include curbside pickup and we have bolstered our delivery infrastructure in Nevada so that we can continue to serve the community with much-needed access to quality cannabis. Our team has continued to show incredible resolve and commitment through the ongoing COVID-19 crisis as demonstrated by this retail opening, our third since the crisis began.”

At this time, carrying a capital value in the market of $1.3B, GTBIF has a significant war chest ($60.5M) of cash on the books, which must be weighed relative to about $144.4M in total current liabilities. One should also note that debt has been growing over recent quarters. GTBIF is pulling in trailing 12-month revenues of $286.8M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 264.8%. You can bet we will update this one again as new information comes into view. 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.