Green Thumb….. Green Thumb Industries(OTCMKTS:GTBIF) shares have been trading sideways the whole of 2024, but that shouldn’t so nearly dampen investor sentiment.
From glowing analyst ratings (14 Buy against one Overweight recommendation) to strong financials for the last quarter, Green Thumb Industries’ short-term and long-term prospects look ultra promising, and it’s one the most undervalued cannabis stocks at the moment.
The Chicago-headquartered firm posted revenues of $276 million for its last quarter, an 11.0% increase from the previous year. Retail revenue specifically saw a 7.9% rise compared to Q1 2023.
Green Thumb said this growth was fueled by higher sales in retail and consumer packaged goods across 15 newly opened RISE Dispensaries and the introduction of adult-use sales in Maryland.
Other indications of its healthy financial status include adjusted EBITDA of $91 million or 33% of revenue — a 19% bump from the previous year and a 12% increase in cash flow compared to Q1 of 2023.