Streetbeat News

GTBIF

Green Thumb Industries Inc

https://www.gtigrows.com/

CEO

Ben Kovler

Industry

Bituminous Coal and Lignite Surface Mining

Open

9.50

Mkt cap

2.1B

Volume

278K

High

9.51

P/E Ratio

31.86

52-wk high

16.33

Low

8.60

Div yield

N/A

52-wk low

7.50

The cannabis stock market saw significant movements on April 19, 2024, with notable gainers including Global Compliance, Affinor Growers, and Corbus Pharmaceuticals, among others. Conversely, several companies experienced declines, such as 1933 Industries, Blueberries Medical, and 22nd Century Group. The fluctuations highlight the volatile nature of the cannabis sector.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 8:30 pm

Florida Governor Ron DeSantis criticized the cannabis legalization amendment set for the November 2024 ballot, suggesting it would lead to public marijuana consumption near schools. He also targeted cannabis companies supporting the amendment, including Trulieve Cannabis Corp and others, for their financial interests in the amendment's passage.

Portfolio Pulse from Maureen Meehan

April 17, 2024 | 11:20 pm

Marijuana stocks saw significant movement on April 17, 2024, with notable gainers including Green Growth Brands and Elixinol Wellness, and losers like Khiron Life Sciences and Item 9 Labs. The movements reflect volatility in the cannabis sector, impacting companies listed on both OTC and major exchanges like NASDAQ and NYSE.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 8:30 pm

The Viridian Cannabis Deal Tracker reports a 39% increase in market value for major cannabis companies, with valuation multiples rising for 11 out of 14 major multi-state operators (MSOs). This growth is attributed to investors betting on long-term growth over short-term earnings, with companies like Curaleaf (CURLF) and Schwazze (SHWZ) experiencing valuation increases despite flat or declining EBITDA. GTI (GTBIF) and Cresco (CRLBF) also saw increases in both EBITDA multiples and estimates, indicating strong fundamentals. The anticipation of cannabis rescheduling is driving multiple expansions, with a focus on EBITDA growth as a key indicator of corporate health.

Portfolio Pulse from Nicolás Jose Rodriguez

April 15, 2024 | 11:53 pm

Viridian Capital Advisors' analysis reveals a 292% surge in trading volume for the cannabis sector, with AYR Wellness leading. Despite this, major Multi-State Operators like Curaleaf and AYR face liquidity challenges, with increased days required to trade their market cap. The report emphasizes the importance of liquidity for investors and hints at potential DEA rescheduling as a factor for market outlook but notes skepticism about attracting more institutional investment without further reforms.

Portfolio Pulse from Nicolás Jose Rodriguez

April 11, 2024 | 5:17 pm

Innovative Industrial Properties (IIPR), a cannabis-focused real estate investment trust, has outperformed major stocks like Tesla (TSLA), Apple (AAPL), Citigroup (C), and Zillow Group (ZG) over the past year with a return of 36.26%. IIPR has been paying quarterly dividends since Q2 2017 and reported a slight increase in net income for Q4 2023. The company owns 108 properties across the U.S. and will be a topic at the upcoming Benzinga Cannabis Capital Conference.

Portfolio Pulse from Nina Zdinjak

April 11, 2024 | 4:45 pm

Cannabis stocks experienced significant movements on April 10, 2024, with notable gainers including Khiron Life Sciences, Heritage Cannabis, and Village Farms International. Losers of the day included Item 9 Labs, SOL Global Investments, and Scotts Miracle Gro. The movements reflect volatility in the cannabis market, impacting investors and companies alike.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 8:30 pm

The DOJ acknowledged in a court filing that state cannabis legalization has increased tourism, as part of its argument to dismiss a lawsuit by cannabis companies challenging federal prohibition. The lawsuit, led against U.S. Attorney General Merrick Garland by companies including Verano Holdings, Ascend Wellness, TerrAscend, and Green Thumb Industries, argues that federal laws hinder their operations despite state compliance. The DOJ's stance highlights the economic benefits of legalization and asserts federal oversight under the Commerce Clause.

Portfolio Pulse from Patricio Liddle

April 08, 2024 | 10:51 pm

Canadian cannabis stocks like Tilray, Canopy, Aurora, and others are rallying due to recent developments such as Tilray's earnings, Organigram's investor day, and movements by Canopy and Aurora. Legislative changes in Canada, Germany, and the U.S. have positively impacted these stocks. Analyst Pablo Zuanic highlights the sector's potential for growth despite liquidity issues, with some stocks trading as proxies for U.S. exposure. Aurora, Tilray, and Canopy show significant short interest, with Tilray and SNDL leading in revenue. Strategic partnerships and international operations are crucial for expansion.

Portfolio Pulse from Nicolás Jose Rodriguez

April 08, 2024 | 10:34 pm

The cannabis sector experienced significant movement on April 5, 2024, with numerous companies seeing substantial gains or losses in their stock prices. Notably, MPX International and 22nd Century Group were among the top gainers, while Choom Holdings and Heritage Cannabis Holding faced steep declines.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 8:30 pm

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