Green Thumb Industries Inc (GTBIF)

[FUNMAN]

Interesting that 13 analysts were on Green Thumb's (Shares Outstanding >> 200.5M) conference call and only 4 analysts were on Trulieve (Shares Outstanding >> 110.3M).

Those statistics should be a "tell". And I believe if I am correct that it's because Green Thumb has a strategic advantage. They almost have the same number of open stores right now, but they are in 11 states with many more licenses to build out (I think 96) in total than Trulieve.

Green Thumb has more shareholders, and by the end of 2020, they will have many more open stores and higher gross revenues than Trulieve.

Trulieve's one state strategic advantage is they are much more economically efficient needing fewer seed to sale infrastructures.

That gives Trulieve a competitive edge with better gross margins.

I think Green Thumb's margins will continue to improve as they scale up in each state with additional stores.

I believe Trulieve's margins and profits will be negatively impacted by scaling up production facilities in each state as they choose to enter.

Green Thumb already has the seed to sale infrastructure in 11 states. The investments are in the past. So is the dilution pain.

Trulieve has to start going through the seed to sale infrastructure growth pain now.


There is no doubt though the Trulieve is the "Social Media King".

Which is probably reflected in the following numbers.


Yet Trulieve has 8,452 Twitter Followers
vs
Green Thumb's 4,866 Twitter Followers.


Trulieve's Facebook Investor Group?has 1.3K members
vs
Green Thumb's Facebook Investors Group has 865 members


Trulieve's iHub board Followers: 141
vs
Green Thumb's iHub board Follower: 87


Thoughts?