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

Ross Gerber, Tesla investor and CEO of Gerber Kawasaki Wealth and Investment Management, is advocating for the DEA to reschedule cannabis, highlighting the absurdity of the delay. He remains bullish on cannabis stocks, citing strong sales and cash flow for companies like Green Thumb, TerrAscend, and Trulieve. A recent report supports his view, showing significant EBITDA upside for Green Thumb and a market cap increase for Trulieve. The potential repeal of IRS tax code 280E could further benefit these companies by reducing their effective tax rates.

Portfolio Pulse from Maureen Meehan

December 28, 2023 | 2:23 am

In Atlantic City, N.J., Catholic nuns' efforts to prevent a cannabis dispensary from opening near their convent were unsuccessful as city officials approved the business. The city aims to become the East Coast hub for cannabis, with Mayor Marty Small Sr. and cannabis czar Kashawn McKinley leading the initiative. The Franciscan Sisters of the Renewal Convent raised concerns about the dispensary's impact on their educational and sobriety programs. Despite opposition from religious groups, the city's cannabis industry is expanding, with several multi-state operators including Acreage Holdings, Ascend Wellness, AYR Wellness, Curaleaf, Green Thumb, Columbia Care, TerrAscend, and Verano Holdings.

Portfolio Pulse from Maureen Meehan

December 26, 2023 | 6:16 am

The marijuana stock market saw significant movement on December 22, 2023, with a number of stocks experiencing substantial gains, while a few faced notable losses. Neptune Wellness Solns (NEPT), Cara Therapeutics (CARA), Canopy Growth (CGC), Tilray Brands (TLRY), Corbus Pharmaceuticals (CRBP), Green Thumb Industries (GTBIF), Curaleaf Holdings (CURLF), Cresco Labs (CRLBF), Trulieve Cannabis (TCNNF), SNDL (SNDL), Cronos Group (CRON), GrowGeneration (GRWG), Aurora Cannabis (ACB), 22nd Century Group (XXII), and Village Farms Intl (VFF) were among the gainers. On the losing end, MPX International (MPXOF) saw a dramatic drop, while Psychemedics (PMD) and Urban-gro (UGRO) also closed down.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 9:30 pm

The article reports on significant price movements in cannabis-related stocks on December 18, 2023. It lists the day's gainers and losers, with MPX International leading the gainers with a 2450.00% increase, and Cara Therapeutics experiencing the largest decline, down 47.98%. Notably, the article includes US-listed companies such as Greenlane Holdings, Urban-gro, cbdMD, Village Farms International, Corbus Pharmaceuticals, Cara Therapeutics, Canopy Growth, Neptune Wellness Solutions, Psychemedics, Mexco Energy, SNDL, and Tilray Brands.

Portfolio Pulse from Benzinga Insights

December 18, 2023 | 9:30 pm

Marijuana stocks experienced a bearish Friday with notable fluctuations. Body and Mind, Maple Leaf Green World, and 1933 Industries were among the top gainers, while GreenGro Technologies led the losers with a 99% decline. Other significant losers included Global Hemp Group and Item 9 Labs. Greenlane Holdings, Cara Therapeutics, and GrowGeneration were among the NASDAQ-listed companies that saw changes in their stock prices.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 9:30 pm

MGO released its annual 'Cannabis 50' list, recognizing influential companies, organizations, and individuals in the cannabis and hemp sectors over the past five years. The list highlights the industry's progress and optimism for rescheduling cannabis. It includes companies like Charlotte’s Web Holdings, Cresco Labs, Curaleaf Holdings, and others. Athletes and entertainers are noted for mainstreaming the industry, and the list also acknowledges entities contributing to social progress and legislative reform.

Portfolio Pulse from Javier Hasse

December 14, 2023 | 5:55 pm

On December 12, 2023, several cannabis stocks experienced significant price movements. Mojave Brands, GrowLife, and Affinor Growers were among the top gainers, with Mojave Brands closing up over 101 million percent. Conversely, Choom Holdings and EVIO were among the top losers, both closing down 99%. Notable US-listed companies that saw price changes include Urban-gro, Corbus Pharmaceuticals, Cara Therapeutics, GrowGeneration, Canopy Growth, OrganiGram Holdings, Greenlane Holdings, and Aurora Cannabis.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 9:30 pm

Nevada Governor Joe Lombardo appointed James Humm as the new leader of the state's Cannabis Compliance Board, succeeding Tyler Klimas. Klimas plans to start a consulting company after a cooling-off period. Humm previously worked at the Governor's Office of Economic Development. In other cannabis industry news, Mandesh Dosanjh became the executive board chair of the IRCC, Richard Drexler stepped down from Green Thumb Industries' board, and Philip Himmelstein was named interim CFO of Acreage Holdings, replacing Carl Nesbitt. Vincent Doré resigned from Entourage Health. The article also hints at potential growth in cannabis stocks, mentioning gains in Green Thumb Industries, Trulieve Cannabis, and Village Farms International.

Portfolio Pulse from Jelena Martinovic

December 11, 2023 | 5:16 pm

The NY Supreme Court has lifted an injunction, allowing six medical marijuana companies to sell recreational cannabis starting Dec. 29. The companies include Columbia Care (CCHWF), Curaleaf (CURLF), Etain (owned by Riv Capital CNPOF), NYCANNA (owned by Acreage Holdings ACRHF), PharmaCann, and Valley Agriceuticals (owned by Cresco Labs CRLBF). Four other companies are eligible to apply for the recreational market, including Citiva Medical (owned by iAnthus Capital Holdings ITHUF), Fiorello Pharmaceuticals (owned by Green Thumb Industries GTBIF), MedMen (MMNFF), and Vireo Health (doing business as Goodness Growth Holdings, listed as GDNSF).

Portfolio Pulse from Maureen Meehan

December 10, 2023 | 4:32 pm

The article announces the opening of new cannabis stores and dispensaries across the United States and Canada, just in time for the holiday season. Green Thumb Industries Inc. has opened two new RISE Dispensaries in Florida, expanding their footprint. Curaleaf Holdings, Inc. has launched its 61st retail location in Florida with a range of cannabis products. CuraScientific Corp's subsidiary opened a wholesale retail store in Palm Desert. Ascend Wellness Holdings, Inc. plans to open a new dispensary in Ohio. Planet 13 Holdings Inc. started sales at its first Illinois store. High Tide Inc. launched a new store in Winnipeg, Manitoba. Additionally, a cannabis lounge by Thrive Cannabis Marketplace and a delivery service in Knoxville, Tennessee are mentioned.

Portfolio Pulse from Jelena Martinovic

December 08, 2023 | 9:11 pm

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