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

New York Governor Kathy Hochul has ordered a comprehensive review of the state's cannabis licensing process to address inefficiencies and the proliferation of illicit pot shops. The review, led by Jeanette Moy, aims to expedite the application process and improve the Office of Cannabis Management (OCM). The OCM, criticized for its slow rollout and legal challenges, has processed only a fraction of the applications received. The situation has led to multiple lawsuits from entities including Acreage Holdings, Curaleaf Holdings, Green Thumb Industries, and PharmaCann, highlighting issues with the social equity program and application procedures.

Portfolio Pulse from Nina Zdinjak

March 18, 2024 | 11:25 am

Cannabis stocks surged following a tweet by hedge fund manager Doug Kass, suggesting the DEA will soon reschedule cannabis to Schedule III, potentially easing business burdens for the industry. Stocks like Curaleaf Holdings, Canopy Growth, and others saw significant gains. The upcoming Benzinga Cannabis Capital Conference will further discuss these developments.

Portfolio Pulse from Maureen Meehan

March 15, 2024 | 5:28 pm

Green Thumb Industries Inc. (GTBIF) is expanding its operations in anticipation of recreational marijuana legalization in several states and is strategically managing its finances through share buybacks and debt repurchase. Despite a recent 13% decrease in stock price, the company's valuation remains above the industry average, reflecting investor confidence. The cannabis sector's future growth is tied to legislative changes and state-level market expansions.

Portfolio Pulse from Nicolás Jose Rodriguez

March 14, 2024 | 3:59 pm

Marijuana stocks experienced significant movements on March 13, 2024, with notable gainers including Global Hemp Group, Blueberries Medical, and 4Front Ventures, among others. Conversely, MedMen Enterprises led the losers, experiencing a dramatic 90% decline. Other companies such as AusCann Group Holdings and Elixinol Wellness also saw substantial drops. The movements reflect the volatile nature of the marijuana stock market.

Portfolio Pulse from Benzinga Insights

March 13, 2024 | 9:30 pm

Tension between the White House and the DEA over marijuana rescheduling is increasing, with DEA officials questioning the medicinal benefits of cannabis despite HHS documents supporting its medical use. The DEA's resistance and concerns over THC potency have caused cannabis stocks to wobble, with notable dips in stocks like MSOS, CURLF, GTBIF, VRNOF, and TCNNF. Rescheduling cannabis could offer significant benefits for the industry, including federal tax deductions and more research opportunities, but faces legal and international treaty concerns.

Portfolio Pulse from Maureen Meehan

March 11, 2024 | 10:56 pm

The cannabis sector experienced mixed movements on March 11, 2024, with several companies showing significant gains while others faced steep declines. Notably, MedMen Enterprises and AusCann Group Holdings saw dramatic drops of 90% and 87.5%, respectively. On the gainers' side, CordovaCann led with a 39.35% increase. Major US-listed companies like Eastside Distilling, Psychemedics, Corbus Pharmaceuticals, Emeren Group, Aurora Cannabis, Genetic Technologies, Scotts Miracle Gro, and Cara Therapeutics also experienced price movements.

Portfolio Pulse from Benzinga Insights

March 11, 2024 | 9:30 pm

Cannabis stocks experienced significant movements on March 6, 2024, with notable gainers including Item 9 Labs, Affinor Growers, and Rocky Mountain High, among others. Conversely, several companies faced declines, with AusCann Group Holdings leading the losers, followed by Elixinol Wellness and Neptune Wellness Solutions. The movements reflect the volatile nature of the cannabis market.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 9:30 pm

Marijuana stocks experienced significant movement on a bullish Friday, with Green Growth Brands leading the gains at 1900.00% increase. Notable gainers include Cara Therapeutics, Corbus Pharmaceuticals, and Genetic Technologies. Conversely, Elixinol Wellness led the losers with a 37.93% decrease. Other notable losers include Heritage Cannabis Holding and Pharmadrug.

Portfolio Pulse from Benzinga Insights

March 01, 2024 | 9:30 pm

Needham analyst Matt McGinley has maintained a Buy rating on Green Thumb Industries (OTC:GTBIF) and increased the price target from $11 to $15.5, indicating a positive outlook on the company's future performance.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 2:14 pm

The cannabis sector experienced significant movement on February 27, 2024, with a majority of stocks showing bullish sentiment. Notable gainers include GreenGro Technologies with a 9900.00% increase and Elixinol Wellness up by 75.56%. On the downside, Australis Capital plummeted by 99.00%, and AusCann Group Holdings fell by 83.95%. This movement reflects a volatile but predominantly positive day for cannabis-related stocks.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 9:30 pm

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