Streetbeat News

GTII

Global Tech Industries Group Inc

Employees

Industry

Facilities Support Services

Open

0.19

Mkt cap

31M

Volume

700

High

0.19

P/E Ratio

-0.30

52-wk high

0.33

Low

0.09

Div yield

N/A

52-wk low

0.00

Florida's cannabis market is expanding with new dispensaries from Green Thumb Industries, Verano Holdings, and Trulieve Cannabis. Other states and Canada also see growth in cannabis retail, with new stores and expansions from various companies including High Tide Inc. and Right on Brands.

Portfolio Pulse from Jelena Martinovic

May 13, 2024 | 3:18 pm

Green Thumb Industries (OTCQX:GTBIF) reported an 11% increase in Q1 2024 revenue to $276 million, with a GAAP net income of $31 million, marking a 240% year-over-year increase. Adjusted EBITDA rose to $91 million, and cash flow from operations increased by 12% to $84 million. The growth is attributed to expanded retail operations and consumer packaged goods sales, including 15 additional RISE Dispensaries and new adult-use sales in Maryland. The company also repurchased 1,067,000 shares for $13.6 million.

Portfolio Pulse from Maureen Meehan

May 08, 2024 | 9:22 pm

The cannabis industry is experiencing significant growth with new store openings and sales milestones ahead of the Benzinga Cannabis Capital Conference in Florida. Illinois' cannabis market continues to expand, with MariMed Inc. opening a new Thrive dispensary. In Florida, Trulieve Cannabis Corp. and Green Thumb Industries Inc. are expanding their retail footprints amid talks of recreational legalization. AYR Wellness Inc. relocated its Tallahassee dispensary, and in New Jersey, C3 Industries Inc. and Holistic Re-Leaf opened new stores. Pennsylvania sees expansion with new dispensaries by PharmaCann Inc. and Cresco Labs Inc.

Portfolio Pulse from Jelena Martinovic

March 19, 2024 | 2:51 pm

Ohio lawmakers are working on rules for legal adult-use cannabis sales, with optimism for progress in the spring. The state's House Speaker and Senate President are aiming for legislative action following the legalization vote two months ago. Meanwhile, experts at Crain's Cleveland Business Cannabis Summit discussed the potential and challenges of the new market. Companies like Green Thumb Industries, Curaleaf Holdings, and Cresco Labs are preparing for the opportunity.

Portfolio Pulse from Jelena Martinovic

January 29, 2024 | 3:04 pm

Ohio's medical cannabis sales reached a record $484.4 million in 2023, but the growth rate has stagnated to only 1.2% year-over-year. The market has seen declining growth rates since its inception, with revenue increases dropping from 297% in 2020 to just 1% in 2023. Despite selling 39% more plant material and 25% more manufactured products in 2023 than in 2022, the average flower retail price fell by 37%. Companies like Green Thumb Industries Inc. (GTBIF), Curaleaf Holdings Inc. (CURLF), and Cresco Labs Inc. (CRLBF) are preparing for Ohio's upcoming recreational cannabis market, which was legalized in November but has not yet commenced sales.

Portfolio Pulse from Jelena Martinovic

January 25, 2024 | 6:48 pm

Colorado lawmakers introduced a bipartisan measure to simplify cannabis regulations, including eliminating mandatory Aspergillus fungus testing. The bill also addresses labeling mandates, allows dispensaries to sell non-cannabis consumable goods, and extends licensure from one to two years. Publicly traded companies in Colorado like Green Thumb Industries, Schwazze, and Charlotte’s Web Holdings could be affected. Curaleaf Holdings exited Colorado last year.

Portfolio Pulse from Jelena Martinovic

January 25, 2024 | 3:11 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

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

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.