Replies to post #689 on Green Thumb Industries Inc (GTBIF)

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What's the name of the company? I saw 4 different ones.

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MEDICAL MARIJUANA | Would legalizing recreational marijuana be good for Pa.'s fledgling medical pot program?

By David Hurst
[e-mail] 1 hr ago

https://www.tribdem.com/news/medical-marijuana-would-legalizing-recreational-marijuana-be-good-for-pa/article_9301bb6c-dfeb-11e9-8745-836ab1a8771d.html

Lt. Gov. John Fetterman's county-by-county tour likely reinforced the idea that a growing number of Pennsylvanians support the concept of legalizing marijuana for recreational use.

But lawmakers – and those who closely track Pennsylvania politics – say it will likely be several years, perhaps even decades, before recreational marijuana becomes legal.

And for Pennsylvania's new but fast-growing medical marijuana program, that might be a good thing, considering the impact adult legalization is having on similar state programs in other states.

As some licensed operators are still working to get dispensaries running statewide – and the list of Pennsylvania patients approved for treatment in the medical marijuana program has grown to 189,000 – pioneer efforts are dwindling in states such as Oregon and Colorado, creating issues for patients, advocates say.

Oregon's trail

Just three years ago, there were 13 medical marijuana processing facilities in Oregon – each of them licensed to develop oils, capsules and other medical products for more than 400 registered dispensaries and the more than 78,000 patients they served.

Today, just 28,000 people are enrolled.

And Salem, Oregon-based PharmEx is the last processor left.

The number of medical marijuana dispensaries statewide has dwindled to three – overtaken by the hundreds of THC-focused recreational shops that now dot downtowns and suburbs.

And that concerns David Mangone, director of government affairs for the Washington, D.C.-based group Americans for Safe Access.

"In some states, we've seen recreational marijuana absolutely collapse the medical marijuana programs," Mangone said.

His member-based company was founded in 2002 to ensure safe and legal access to therapeutic cannabis for treatment and research.

While the concept of recreational pot is often portrayed as a high point for marijuana acceptance, the push has become a roadblock for many of the thousands of patients his group represents – people who have found relief for major ailments by using medicine from cannabis components that recreational shops aren't offering, Mangone said.

"With the rise of recreational shops, processors are turning their attention to products that have wider appeal," he said. "They have to make the most popular products to compete. And suddenly, specialized concentrates that some patients rely on are getting pulled off the shelves."

Can they co-exist?

Representatives from several of the state's licensed medical marijuana companies told CNHI newspapers that they don't think legalizing recreational pot would negatively impact the industry in Pennsylvania.

"It certainly wouldn't hurt it," Green Thumb Industries' Pennsylvania market president Tim Hawkins said, because it "will not change a thing about the medicinal value."

Green Thumb operates "Rise" dispensaries in Latrobe, Carlisle, Mechanicsburg and Erie – and a growing and processing facility in Danville.

Hawkins said if the state legalized marijuana for adults, Green Thumb would seek to sell to the recreational-use crowd, too.

"If the law allows for recreational sales, we would sell it recreationally," he said.

But the company wouldn't abandon the medicinal mission, he said, because "we believe in the medicinal value of cannabis."

Casey Rybak, an assistant manager of the Nature's Medicine dispensary near Bloomsburg, agreed.

"Overall, I think (legalizing adult-use) marijuana would be a good thing, especially if people still use it as medicine," Rybak said.

Opposition mobilizing

But across the state, some lawmakers – and the public alike – are worried about the potential consequences of legalizing marijuana for recreational use.

After seeing a mostly pro-pot crowd attend Fetterman's Cambria County tour stop, the faith-based Forest Hills Ministerium organized an anti-pot movement in Cambria County this summer to speak out against the idea of legalizing marijuana.

Joe Stains, a Mount Hope United Methodist senior pastor, was among several people in the group who have circulated petitions against recreational-use of the drug, arguing that marijuana is more potent than it was 30 years ago – and that, much like alcohol, wider availability could lead to substance abuse problems, negative effects on learning and other issues.

Alongside the Cambria County Drug Coalition, the group attracted a crowd of more than 80 people – many of them retirees – to a forum in August at Forest Hills High School in Sidman.

"We're seriously concerned about this," Stains said.

"Youth who use marijuana by age 15 are four times less likely to graduate from high school," Cambria County Drug Coalition Executive Director Ronna Yablonski said. "Studies have linked it to increase risks of suicide ... yet it's being considered for sale over the counter by retail clerks."

State Rep. Wayne Langerholc Jr, R-Cambria County, also opposes recreational marijuana.

As a former prosecutor, Langerholc opposes any plan that would legalize pot to the general public. He said state officials need to focus on ensuring that Pennsylvania's medical marijuana program reaches its potential.

"The medical cannabis industry is in the early stages here," he said. "We need to devote our efforts and energy into making sure it succeeds."

State Senator Pat Stefano, R-Fayette County. agreed.

"We just rolled out this program – and there are companies that have invested a lot of time and money into getting their companies off the ground – as well as their delivery and treatment methods," Stefano said. "That could all go out the window with adult-use legalization."

Another way?

Marijuana advocate Patrick Nightingale has a different view. In his eyes, there's room for both medical and recreational marijuana.

Because of the way Pennsylvania rolled out its medical marijuana program a few years ago, the state could legalize pot and yet avoid the fate of so many other states, said Nightingale, executive director of Pittsburgh's chapter of the National Organization for the Reform of Marijuana Laws (NORML).

The key is incentivizing medical marijuana program card-holders to remain in the program, Nightingale said.

He said the state could tax the cultivation, growth and sale of recreational marijuana at 35 percent – versus just five percent rate dispensaries pay for medical cannabis. The state would likely be able to keep recreational prices higher than medical sales – and in doing so, collect an estimated $581 million in new revenue annually.

Mangone said Illinois – the most recent state to legalize marijuana – tried a similar move this year to keep its medical marijuana program thriving, and there are signs that program might yield success.

The state enacted a tax that moves on a sliding scale based on the amount of THC the product carries, he added.

No appetite for the move

Two Philadelphia-area senators have introduced legislation that would legalize the substance to people ages 21 and older – but Langerholc and Nightingale both said that plan won't go anywhere in the coming year.

It's likely state leaders could find ways for the programs to co-exist – but there isn't a strong enough appetite for recreational pot within Harrisburg's Capitol Building, Nightingale noted, saying politics are at play.

With Wolf's administration warm to the idea, the GOP, which controls both the House and Senate, doesn't want to give Democrats a victory, Nightingale said.

Daniel Mallinson, an assistant professor at Penn State Harrisburg and researcher of marijuana policy, offered a similar take.

“Pennsylvania has to get this through the legislature, which is a different political monster than a ballot initiative,” Mallinson said.

Pennsylvania isn't alone. New York and New Jersey will have to do the same for recreational to become law – and despite the fact they are liberal states with Democratic governors, they have not yet found a way, he noted.

“They’re going to have to figure it out,” Mallinson said of New York and New Jersey, “and pave the way before a more conservative state like Pennsylvania.”

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Republicans expected to take up Marijuana in the Senate

Marijuana expected to get traction in Senate — as a banking bill

https://www.politico.com/news/2019/09/26/marijuana-senate-banking-001391?fbclid=IwAR07W7FbJqWXUQU-pPQe3QbOfkZTSwC91iEZFb06eUBakuf5VwTSHHpML_o

By NATALIE FERTIG and ZACHARY WARMBRODT

09/26/2019 05:03 AM EDT

The Senate is poised to take up legislation to boost the nation’s booming cannabis industry, with its backers feeling bullish and selling it as a bill that is more about banking than marijuana.

Their confidence follows action in the House on Wednesday, where Democrats and Republicans joined forces to pass an historic bill that would give legalized marijuana businesses access to banking services. Senate Republicans are expected to act as lawmakers face the inescapable reality of the 33 states and counting that have legalized marijuana in some form. The strongest indicator has come from the chairman of the Senate Banking Committee Mike Crapo (R-Idaho), who after months of weighing the issue said he wants to advance the legislation.

“It’s a problem that keeps coming up,” Sen. Marco Rubio (R-Fla.) said. “I think you can be against marijuana and still understand that if it’s going to be a legalized product, we need to be able to control it through our banking system.”

Story Continued Below

It’s with that dichotomy in mind that advocates are approaching the Senate. Champions of the legislation proved in the House that it was possible to build a broad, bipartisan coalition to retool marijuana laws even as many Republicans resist legalization and the drug remains illegal at the federal level.

The House legislation wouldn’t change the legal status of cannabis but would shield banks and insurers from penalties if they choose to serve the industry where it has become lawful.

“It’s no longer about cannabis,” said Don Murphy of Marijuana Policy Project. “It’s not cannabis advocates calling for this. It’s bankers. And Realtors. And insurance companies. And those are folks that Republicans respond to.”

In the House, Republicans said they found success in selling the bill to others in the party by making clear it was a piece of banking legislation — not marijuana legalization. And marijuana advocates recognize they have less clout with Republicans and say they’ll let banking advocates take center stage in the Senate.

American Bankers Association President and CEO Rob Nichols said the cannabis bill will be a “key priority” when the group’s members visit Washington to meet with lawmakers this fall.

“The politics of marijuana are changing,” said Rep. Steve Stivers (R-Ohio), a key player in the effort to whip House Republican votes. “But there are a lot of people who are going to vote 'yes' on this who are not for the legalization of marijuana, like me."

House sponsors took this into account. The final bill they sent across the Capitol had additions designed to make it more palatable to Republican senators.

Protections for hemp were added to cater directly to hemp-industry backers including Senate Majority Leader Mitch McConnell, who pushed hard for its legalization in the 2018 farm bill.

Another provision was added to restrict bank regulators from pressing lenders to cut ties with customers based on reputational risk. It was aimed at winning over Republicans who wanted Congress to prevent the revival of an Obama-era program known as “ Operation Choke Point” that GOP critics said discouraged banks from serving payday lenders and gun retailers.

Crapo, long seen as a potential hurdle to cannabis banking legislation, was among the “Choke Point” initiative’s most vocal critics.

"The hemp language I predict will get Sen. McConnell’s attention,” Rep. Andy Barr (R-Ky.) said. “The anti-Choke Point language I predict will get Sen. Crapo's attention."

Fueling optimism in the Senate is a seeming lack of opposition from President Donald Trump and buy-in from Republicans such as Crapo, whose state has not legalized cannabis but who has been moved by fallout from the federal-state conflict.

And five Republican senators already co-sponsor a companion cannabis banking bill. Its lead GOP sponsor is Sen. Cory Gardner (R-Colo.), who is facing a tough reelection battle in a purple state with a major marijuana industry.

“I see it really as a fairness bill, a fairness banking bill more than a cannabis bill. And that’s okay,” said Sen. Kevin Cramer (R-N.D.), a co-sponsor of the bill.

Ironically, Democrats may present a new hurdle in the Senate.

Pro-marijuana presidential candidates in the Senate such as Cory Booker (D-N.J.), Kamala Harris (D-Calif.) and Bernie Sanders (I-Vt.) have said they would prefer that comprehensive marijuana reform move before piecemeal legislation that caters solely to the already-existing marijuana industry.

“We can & must do more,” Booker tweeted Wednesday night immediately after the House vote.

Wobbly support from Democrats is not keeping advocates up at night, however, because it falls to Republican leaders like Crapo and McConnell to make the decisions about this bill. Democrats are unlikely to flee en masse from the bill.

“I think that perhaps the most interesting debates going on in Congress on this topic are inside the minds of individuals,” Cramer said. “Democrats have to do something for the banking industry and Republicans have to do something for the cannabis industry. And at the end, you get this kind of policy, maybe.”

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3 Cannabis Stocks With Sky-High Potential

TipRanks
October 2, 2019

With the end of 2019 coming up, the climate is changing for the cannabis industry. Canada is getting ready to enact the second stage of its legalization drive, opening markets for CBD extracts, beverages, and edibles. The Canadian market is estimated to account for 12% of global marijuana sales by the end of this year. The scale of the US market compensates for the patchwork legalization landscape; US legal cannabis will account for 80% of global sales this year, according to Arcview Market Research.

Troy Dayton, CEO of Arcview, sees CBD as the driver for cannabis sales through 2024. He says, “CBD products on the shelves of grocery stores and mass merchants is just the first act in the “Cannabinoids Everywhere” phenomenon. Unlike with alcohol, coffee or other plant-sourced consumables, cannabis product marketers have more than taste and strength to work with; they also have the subtle effects of 100-plus cannabinoids other than THC. The popularity of CBD is the first inkling of things to come.”

In a report released earlier this summer, retail data analytics firm Nielsen points out that the initial legalization cannabis focused on dried flower products but that the upcoming wave of new derivative products, oils, edibles, and drinks have both higher gross margins and no supply chain bottlenecks. The Nielsen report predicts the US cannabis market reaching $41 billion by 2025.

So, with the market primed to expand, it’s clear that there is a lot of money to be made in marijuana stocks. The segment’s recent dip – at least three major players are at one-year lows as of yesterday – offers a savvy investor a chance to buy in at low prices and high upside potential. We’ve used TipRanks’ Stock Screener tool to find three small-cap marijuana companies with well over 100% upside potential. Let's take a closer look:

Green Thumb Industries

Chicago-based Green Thumb (GTBIF – Get Report) owns the Rise and Essence brands of retail cannabis outlets, with more than 50 retail stores under the Rise name and additional outlets through third-party marketers. Green Thumb’s calendar Q2 earnings release showed $44.7 million in revenues, a 60% sequential gain and a 228% year-over-year gain. Organic consumer product growth and increased store traffic powered the revenue gains. Along with fast-growing revenue, the company also boasts a strong cash position, with $83 million in liabilities more than balanced by $117 million cash on hand. CEO Ben Kolver stated of the company’s forward prospects, “Continued execution of key priorities such as… accelerated store openings, and expanded distribution of our brand portfolio, sets us up well for the future.”

With operations in 12 US states, including its retail locations and 13 manufacturing facilities, Green Thumb is well positioned to take advantage of the expansion prospects in the US cannabis markets.

Starting coverage of Green Thumb for Cowen in mid-September, 5-star analyst Vivien Azer specifically cites the company’s high growth potential. She writes, “We believe the company's focused operating model that favors geographic depth, and a balanced revenue approach between wholesale and retail, gives GTI the most revenue and margin potential among our MSO coverage. GTI is our favorite name among the MSOs.” Azer’s $18.50 price target suggests an upside to this stock of 122%. Ms. Azer adds that Green Thumb is a “compelling buy,” describing it as, “…currently trading at 4.2x FY20 revenue, which is a 22% discount to their MSO peers.” (To watch Azer's track record, click here)

The company’s low share price and high upside are key benefits for new investors looking to get in on that expansion. GTBIF sells for just $8.30 cents per share, and the average price target, $19.75, indicates room for 138% growth. Green Thumb’s Strong Buy analyst consensus rating is based on a unanimous 7 buys assigned to the stock in the last three months. (See Green Thumb's price targets and analyst ratings on TipRanks)

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Rise Cannabis - The Rise & RYTHM teams #united yesterday to show support for those affected by #breastcancer at the Annual #PinkPerrySquare” event in downtown #Erie ??The fountain is dyed #pink each #October to raise #awareness—we were thrilled to be there! #RISEForACause #RYTHMForACause

The Rise & RYTHM teams #united yesterday to show support for those affected by #breastcancer at the Annual #PinkPerrySquare” event in downtown #Erie 💖The fountain is dyed #pink each #October to raise #awareness—we were thrilled to be there! #RISEForACause #RYTHMForACause pic.twitter.com/SNAmM8LciS

— RISE Dispensaries (@risecannabis) October 2, 2019

Community involvement for good causes is good publicity.

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OTC Markets Group Announces Quarterly Index Performance and Rebalancing

(PRNewsFoto/OTC Markets Group)
NEWS PROVIDED BY
OTC Markets Group Inc.
Oct 10, 2019, 16:00 ET

https://www.prnewswire.com/news-releases/otc-markets-group-announces-quarterly-index-performance-and-rebalancing-300936825.html

NEW YORK, Oct. 10, 2019 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced the third quarter 2019 performance and quarterly rebalancing of the OTCQX® and OTCQB® indexes, including the OTCQX Canada Index and the OTCQX Dividend Index.

The OTCQX Composite Index (.OTCQX), a benchmark for the overall OTCQX Best Market, was down 1.25% in the third quarter. Fifty-four new companies were added to the index, including: Columbia Care Inc. (OTCQX: CCHWF), Core One Labs Inc. (OTCQX: CLABF), A.M. Castle & Co. (OTCQX: CTAM), 4Front Ventures Corp. (OTCQX: FFNTF), and Overstock.com, Inc. (OTCQX: OSTBP). Thirty-nine were removed from the index, including: Stereotaxis Inc. (STXS) which went to NYSE MKT on 9/26/2019 and Alerus Financial Corp. (ALRS) which graduated to NASDAQ on 9/13/2019.

The OTCQX Billion+ Index (.OTCQXBIL), which tracks the performance of $1 billion-plus market cap OTCQX companies, was down 1.02% for the quarter. Four new companies were added to the index: BNP Paribas (OTCQX: BNPQF), Computer Sciences Inc. (OTCQX: CSVI), Green Thumb Industries Inc. (OTCQX: GTBIF) and Interconexion Electrica S.A. E.S.P. (OTCQX: IESFY). Five companies were removed.