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 article lists the marijuana stocks that gained and lost on August 9, 2023. Notable gainers include CannTrust Holdings (OTC:CNTTQ), Humble & Fume (OTC:HUMBF), and Maple Leaf Green World (OTC:MGWFF). Significant losers include Gaby (OTC:GABLF), Rocky Mountain High (OTC:RMHB), and GrowGeneration (NASDAQ:GRWG).

Portfolio Pulse from Benzinga Insights

August 09, 2023 | 9:30 pm

Green Thumb Industries Inc. reported Q2 2023 revenues of $252.4 million, a decrease of 0.8% YoY but an increase of 2% from Q1 2023. Gross profit was $125.3 million, down 0.4% YoY, and net income was $13.4 million, a decrease of 45.2% YoY. Adjusted EBITDA was $75.8 million, down from $78.7 million in Q2 2022. The company ended the quarter with $149 million in cash and $289.9 million in total debt.

Portfolio Pulse from Vuk Zdinjak

August 09, 2023 | 12:00 pm

Green Thumb Industries (OTC:GTBIF) reported Q2 earnings of $0.05 per share, meeting analyst consensus. This is a 50% decrease from the same period last year. The company's quarterly sales of $252.39M beat the analyst consensus estimate of $250.56M by 0.73%, but it's a 0.76% decrease from last year's sales.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 8:36 pm

Illinois' cannabis industry is undergoing significant transformation, with Governor J.B. Pritzker highlighting the creation of over 30,000 jobs since legalization. Major companies in the state include Cresco Labs Inc (CRLBF), Verano Holdings Corp. (VRNOF), and Green Thumb Industries Inc. (GTBIF). Viola CHI, a subsidiary of Viola Brands, is emerging as a key player in the sector, with plans to expand its retail presence in Chicago. The company is also involved in legal proceedings against the state for fair treatment in license allocation.

Portfolio Pulse from Joana Scopel

August 08, 2023 | 8:32 pm

A New York state Supreme Court judge has ordered a temporary halt on the issuance of new Conditional Adult-Use Retail Dispensaries licenses in New York, siding with a group of veterans who filed a lawsuit against the Office of Cannabis Management. The lawsuit argues that the office violated the Marijuana Regulation and Taxation Act by prioritizing licenses for individuals with prior drug convictions. The court order also prevents state regulators from granting operational approvals to those who already have licenses and are close to opening dispensaries. The lawsuit includes large marijuana companies Acreage Holdings, Curaleaf Holdings, Green Thumb Industries, and PharmaCann.

Portfolio Pulse from Nina Zdinjak

August 08, 2023 | 12:58 pm

Illinois' cannabis retailers sold $140 million in weed products in July 2023, setting a new record. The state collected $36 million in tax revenue from Wisconsin residents alone. Governor Pritzker noted that cannabis legalization has resulted in the creation of more than 30,000 jobs in Illinois over the past two years. Major companies in the state's cannabis industry include Cresco Labs Inc, Verano Holdings Corp., Green Thumb Industries, and PharmaCann. Illinois' weed sales reached $1.5 billion in 2022, and 2023 is on track to meet or exceed that record.

Portfolio Pulse from Maureen Meehan

August 04, 2023 | 5:54 pm

Colorado Governor Jared Polis expressed satisfaction with the legalization of marijuana and psychedelics, citing benefits such as job creation and tax revenue generation. New Mexico set a record with $34 million in recreational cannabis sales in July 2023. Federal, state, and local officials voted to add new marijuana items to a federal handbook to establish model standards for cannabis definitions, packaging, and labeling. New York's legal cannabis sales reached $33 million in the first six months, falling short of projections. Employees at Warwick's RISE Dispensary in Rhode Island unionized with UFCW Local 328 after Green Thumb Industries (OTC:GTBIF) took over the dispensary in 2021.

Portfolio Pulse from Nicolás Jose Rodriguez

August 04, 2023 | 3:36 pm

Four military veterans have filed a lawsuit against the Office Of Cannabis Management (OMC) in New York, accusing it of violating the Marijuana Regulation and Taxation Act (MRTA) by prioritizing licenses for individuals with prior drug convictions. The plaintiffs argue that all 'social equity' applicants should have been prioritized, not just those with prior cannabis convictions. The lawsuit requests a temporary restraining order and preliminary injunction to stop the state from awarding and processing any further retail licenses. The OMC has so far issued 463 retail licenses to individuals with prior marijuana-related convictions and non-profits.

Portfolio Pulse from Nina Zdinjak

August 04, 2023 | 3:36 pm

Cannabis workers at Sunnyside, a subsidiary of Cresco Labs (OTCQX:CRLBF), have voted to join Teamsters Local 777, making it the fifth Cresco location to do so. The Teamsters union has been gathering more cannabis industry workers to push for better industry conditions. Other recent Teamster activities include workers at Bloc Dispensary, a subsidiary of Justice Cannabis Company, and workers at Growpacker, Amuse, and RISE dispensaries joining the union.

Portfolio Pulse from Vuk Zdinjak

August 04, 2023 | 3:13 pm

Trulieve Cannabis Corp. and AYR Wellness, Inc. are expanding their retail footprint in Florida, with Trulieve opening a new store and relocating a medical dispensary, and AYR opening three new retail locations. Symple Seeds opened a new fulfillment center in South Florida. In New Jersey, Goldfinch Dispensary and Discofries cannabis cultivation are preparing to open, and Justice Cannabis Co. has launched medical cannabis sales. High Tide Inc. launched recreational marijuana sales at a new store in Ontario, Canada. Green Thumb Industries Inc. launched cannabis sales at a new store in Las Vegas. Quality Roots opened a new cannabis dispensary in Michigan, and a new medical cannabis dispensary opened in South Dakota.

Portfolio Pulse from Jelena Martinovic

August 04, 2023 | 1:25 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.