Green Thumb Reports Strong Growth Although the Canadian cannabis industry has been one of the most exciting places to invest, the United States market is gaining significant traction and we are monitoring this opportunity. Green Thumb Industries Inc. (GTII.CN) (GTBIF) is highly levered to the United States market and we are favorable on this opportunity.
Yesterday, Green Thumb released second quarter financial results and these number showed strong growth on a year-over-year basis. During the quarter, Green Thumb opened five RISE retail stores, bringing the total number of stores to 13. These new stores opened in Pennsylvania (Erie, Steelton, Carlisle), Maryland (Joppa), and Massachusetts (Amherst).
Through business development and acquisition-related activities, the company’s geographic reach expanded to eight markets in the United States with a total population of over 94 million and includes eight cultivation and manufacturing facilities and licenses for 59 retail stores.
Green Thumb is in the middle of a major growth cycle is focused on expanding into two of the most exciting market in the United States, Florida and New York. At the end of the second quarter, the company generated wholesale revenue by producing and distributing consumer packaged products in three out of eight markets (Illinois, Maryland and Pennsylvania). As new markets come on-line, fundamentals will continue to improve, and this is an exciting aspect of the story.
Currently, the Nevada, Massachusetts, Florida and New York market are in various stages of production and we consider this to be a significant opportunity. We are very excited by these four markets and expect them to be a major growth driver for the United States cannabis company.
(Taken from technical420 website article)