Green Thumb Industries Inc (GTBIF)

[FUNMAN]

Green Thumb Industries Inc (OTCMKTS:GTBIF) Could be on the “Rise” Again

By James Hudson - January 1, 2020

To see the graphs read at this link:

https://oracledispatch.com/2020/01/01/green-thumb-industries-inc-otcmktsgtbif-could-be-on-the-rise-again/

Shares of Green Thumb Industries Inc (OTCMKTS:GTBIF) could be interesting after the company just announced it will open Rise New Castle, its ninth retail location in Pennsylvania and 36th in the nation, on December 17. According to the release, Rise currently has locations in Carlisle, Erie, Hermitage, King of Prussia, Latrobe, Mechanicsburg, Steelton and York. GTI entered the Pennsylvania market in 2017 and operates a manufacturing facility in Danville where the company produces branded products, including its flagship Rythm brand.

“We are honored to open our ninth Rise store in Pennsylvania and to be the first medical cannabis retailer in New Castle,” said GTI Founder and Chief Executive Officer Ben Kovler. “We look forward to bringing high quality cannabis products and a customer-first retail experience to more patients in the state.”

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.”

As noted above, GTBIF just announced it will open Rise New Castle, its ninth retail location in Pennsylvania and 36th in the nation, on December 17.

While this is a clear factor, it has been incorporated into a trading tape characterized by a pretty dominant offer, which hasn’t been the type of action GTBIF shareholders really want to see. In total, over the past five days, shares of the stock have dropped by roughly -2% on above average trading volume. All in all, not a particularly friendly tape, but one that may ultimately present some new opportunities. In addition, the company has registered increased average transaction volume recently, with the past month seeing 27% over what the stock has registered over the longer term.

“We are excited about this project and would like to welcome Rise™, an experienced cannabis operator, to Lawrence County,” said Lawrence County Regional Chamber of Commerce Investor Relations Coordinator Erin Orrico. “Patients in the Pennsylvania medical program will certainly benefit from this new location.”

At this time, carrying a capital value in the market of $1.03B, GTBIF has about $117M in cash on the books, which is balanced by about $83M in total current liabilities. The company has pulled in $114M in trailing twelve-month revenues, representing 228% growth on a quarterly y/y basis.