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 DOJ has requested a federal court to dismiss a lawsuit from the cannabis industry seeking to stop the federal ban on marijuana. The DOJ argues that the court should await the DEA's rescheduling decision and that the plaintiffs lack standing, as they haven't faced federal prosecution. The government also cites the constitutional regulation of intrastate marijuana activities and a lack of substantial risk of future enforcement. The lawsuit involves several cannabis companies, including Verano Holdings, Ascend Wellness, Green Thumb Industries, and TerrAscend.

Portfolio Pulse from Maureen Meehan

January 24, 2024 | 3:53 pm

Pablo Zuanic's Q4 2023 cannabis sector report highlights state-specific market trends, with Connecticut, Ohio, Illinois, Maryland, and Rhode Island showing growth. Companies like MariMed, Verano, and Green Thumb Industries benefit from diversified state exposure. The report discusses MSO performance variations, regulatory developments, and potential political shifts that could impact the market. Key players in various states are analyzed, with the DEA's response to cannabis rescheduling being a significant upcoming event.

Portfolio Pulse from Nicolás Jose Rodriguez

January 23, 2024 | 8:38 pm

The DOJ intends to seek dismissal of a lawsuit filed against U.S. Attorney General Merrick Garland by Massachusetts cannabis industry players, challenging federal marijuana prohibition. The lawsuit claims prohibition harms businesses by denying them financial services and tax benefits, and poses public safety risks. Plaintiffs include Gyasi Sellers of Treevit, Canna Provisions, Wiseacre Farm, and publicly traded companies Verano Holdings, Ascend Wellness Holdings, Green Thumb Industries, and TerrAscend. The DOJ is also requesting to submit an extended legal memorandum to address constitutional issues. This comes as the DEA considers rescheduling cannabis following a recommendation from the HHS.

Portfolio Pulse from Nina Zdinjak

January 23, 2024 | 3:16 pm

Cannabis stocks experienced significant movements on January 19, 2024. EVIO led the gainers with a 9900.00% increase, while Rocky Mountain High topped the losers with a 21.62% decline. Notable gainers included Genetic Technologies, OrganiGram Holdings, and Cara Therapeutics, with increases of 42.16%, 10.72%, and 4.80% respectively. Among the losers, Corbus Pharmaceuticals and Greenlane Holdings saw declines of 4.91% and 3.32%.

Portfolio Pulse from Benzinga Insights

January 19, 2024 | 9:30 pm

The cannabis sector experienced bearish sentiment on January 18, 2024, with a mix of gainers and losers. Notable gainers included Genetic Technologies (GENE) and Urban-gro (UGRO), while significant losers were Aurora Cannabis (ACB), GrowGeneration (GRWG), OrganiGram Holdings (OGI), Tilray Brands (TLRY), Neptune Wellness Solutions (NEPT), Canopy Growth (CGC), Corbus Pharmaceuticals (CRBP), and Village Farms International (VFF).

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 9:30 pm

Maryland and Rhode Island saw record cannabis sales in December, with Maryland reaching $96.5 million and Rhode Island over $107.8 million for the year. Recreational cannabis dominated sales in Maryland, while both states saw high demand for edibles, prerolls, vape carts, and prepackaged flower. Curaleaf Holdings, Green Thumb Industries, Verano Holdings, and Cresco Labs are among the companies that transitioned to adult-use shops in Maryland. Experts suggest cannabis stocks are now poised for growth, with significant gains already seen in some stocks.

Portfolio Pulse from Jelena Martinovic

January 17, 2024 | 6:20 pm

The New York Cannabis Control Board approved Fiorello Pharmaceuticals, owned by Green Thumb Industries, and Citiva Medical, owned by iAnthus Capital Holdings, to transition from medical to recreational cannabis markets. Maine is considering decriminalizing small quantities of drugs, focusing on treatment over punishment. Arkansas activists submitted a ballot measure to improve medical marijuana access. Florida's medical marijuana program reports a 15% increase in patients, with a recreational legalization initiative on the horizon, supported by Trulieve Cannabis Corp.

Portfolio Pulse from Jelena Martinovic

January 17, 2024 | 2:17 pm

The article lists the cannabis stocks that experienced significant gains and losses on January 16, 2024. Notable gainers include MedMen Enterprises, C21 Investments, and 22nd Century Group, with increases of 66.67%, 19.62%, and 14.92% respectively. On the losing side, Khiron Life Sciences and Global Hemp Group saw sharp declines of 49.64% and 44.60%. The article reflects the volatility in the cannabis market and may influence investor sentiment.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 9:30 pm

Cannabis stocks and ETFs saw a surge in trading following the release of HHS documents recommending the DEA to reschedule cannabis from Schedule I to Schedule III. The documents and statements from HHS officials suggest cannabis has accepted medical use and a lower potential for abuse, fueling investor optimism for potential regulatory changes that could benefit the industry.

Portfolio Pulse from Jelena Martinovic

January 16, 2024 | 5:56 pm

A report by senior analyst Pablo Zuanic discusses the potential benefits of rescheduling cannabis to Schedule III, including improved cash flow and creditworthiness for U.S. cannabis companies, and easier banking access. The report also considers the impact of federal legalization of medical cannabis and the legal complexities involved. It highlights the uncertainty in the cannabis sector due to the upcoming election and the possibility of a Trump reelection, which could cap the upside for cannabis stocks. The biggest beneficiaries of the rescheduling would be StateHouse, AYR, Jushi, and The Cannabist, with Curaleaf, Trulieve, and Green Thumb paying the most taxes relative to their sales.

Portfolio Pulse from Nicolás Jose Rodriguez

January 16, 2024 | 3:19 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.