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

Maryland's cannabis sales reached $87.43 million in the first month of recreational sales, exceeding expectations. The state's cannabis retailers, including TerrAscend (OTCQX: TRSSF) and Curaleaf Holdings (OTCQX: CURLF), are delighted with the results. The Maryland Cannabis Administration anticipates the industry will generate $600 million in retail sales during the first year of adult-use cannabis legalization.

Portfolio Pulse from Maureen Meehan

August 04, 2023 | 12:33 pm

Cannabis is now legal in Minnesota, making it the 23rd state to legalize adult use. A bill has been filed to prepare for federal cannabis legalization with alcohol-like regulations. The U.S. Senate has approved legislation to protect people from being denied security clearances due to past cannabis use. TerrAscend preannounced stronger-than-consensus Q2 revenues and gross margins and provided robust full-year guidance. Looking ahead to the upcoming earnings, Green Thumb (OTC: GTBIF), Verano (OTC: VRNOF), and TerrAscend (OTC:TSNDF) (TSX:TSND) are favored among the Tier-1 MSOs.

Portfolio Pulse from Todd Harrison

August 04, 2023 | 11:48 am

A recent equity report by Zuanic & Associates reveals the tax payments and liabilities of 16 Multi-State Operators (MSOs) in the cannabis industry during CY22. The MSOs collectively paid $761 million in income taxes, with Curaleaf (OTC:CURLF) and Trulieve (OTC:TCNNF) being the top contributors. The report also highlights the varying income tax to gross profit ratios among the MSOs, suggesting that some companies might be using tax debts as a low-cost funding source.

Portfolio Pulse from Nicolás Jose Rodriguez

August 04, 2023 | 9:10 am

On July 31, 2023, several marijuana stocks experienced significant price movements. Notable gainers included Hemp (OTC:HEMP), Acreage Holdings (OTC:ACRDF), and Malachite Innovations (OTC:MLCT), which saw their shares close up by 100.00%, 42.03%, and 40.95% respectively. On the other hand, Humble & Fume (OTC:HUMBF), EVIO (OTC:EVIO), and Choom Holdings (OTC:CHOOF) were among the biggest losers, with their shares closing down by 67.04%, 50.00%, and 44.44% respectively.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 9:51 pm

Analysts expect 2nd quarter EBITDA margins to be higher than 1st quarter for nine out of fourteen major cannabis companies. However, most companies are expected to have lower Q2 23 EBITDA margins than Q2 22 due to wholesale pricing pressures and inflation-driven cost increases. Outliers include Planet 13, Ascend, Trulieve, Green Thumb, and Schwazze, which are facing various challenges. Jushi, Columbia Care, Terrascend, and AYR have higher expectations due to various improvements and strategies.

Portfolio Pulse from Viridian Capital Advisors

July 31, 2023 | 6:07 pm

On July 28, 2023, several cannabis stocks experienced significant price changes. Notable gainers include EVIO, Earth Science Tech, Target Group, Leef Brands, Canopy Gwth, and SLANG Worldwide, among others. On the other hand, Chalice Brands, GrowLife, Maple Leaf Green World, Hemp, and Malachite Innovations were among the biggest losers.

Portfolio Pulse from Benzinga Insights

July 28, 2023 | 9:30 pm

The article lists the cannabis stocks that gained and lost on July 25, 2023. Notable gainers include EVIO, MGC Pharmaceuticals, CBD Of Denver, Allied, and Blueberries Medical. Significant losers include Choom Holdings, 1933 Industries, GrowLife, Item 9 Labs, and Flora Growth.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 9:30 pm

The article lists the top 10 cannabis shops in Nevada, excluding Las Vegas, based on Google star ratings. The list includes shops owned by Planet 13 Holdings Inc., AYR Wellness Inc., C21 Investments Inc., Green Thumb Industries Inc., and Curaleaf Holdings, Inc.

Portfolio Pulse from Jelena Martinovic

July 24, 2023 | 3:43 pm

On July 21, 2023, several cannabis stocks experienced significant price movements. Notable gainers included Craftport Cannabis (OTC:BHHKF), Choom Holdings (OTC:CHOOF), and Tetra Bio Pharma (OTC:TBPMF), with shares closing up 580.00%, 125.00%, and 121.31% respectively. On the other hand, Hemp (OTC:HEMP), Avenir Wellness Solutions (OTC:CURR), and 1606 (OTC:CBDW) were among the biggest losers, with shares closing down 50.00%, 27.57%, and 18.75% respectively.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 9:30 pm

Cresco Labs Inc (OTC:CRLBF) has filed a lawsuit against Green Thumb Industries Inc (OTCQX:GTBIF) accusing it of illicitly recruiting its high-level personnel. Cresco alleges that a top-level employee was poached by GTI, in violation of a non-compete clause. The employee in question, Christopher Tonge, developed a unique process for extracting cannabis oil from marijuana plants, which increased revenue and facilitated significant cost savings for Cresco. The lawsuit also alleges that another ex-Cresco employee, now GTI's senior vice president of operations, has been urging other Cresco workers to resign and join GTI.

Portfolio Pulse from Joana Scopel

July 21, 2023 | 8:26 pm

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