Green Thumb Industries (GTBIF) continues to gain momentum as a leading cannabis company with its recent acquisitions. Although GTBIF hasn't garnered the same level of attention as its bigger counterparts. However, with its continued efforts, GTBIF has managed to open doors in new markets - Ohio and Florida.
To date, Green Thumb Industries now has a total of 18 retail locations with the option of up to 88 more with its latest acquisitions. The company has plans for opening 3 more stores in Ohio including a processing facility. Ohio is an excellent location for this most recent move as the state is projected to have up to 300,000 patients on medical cannabis.
GTBIF will go from 14 open stores at the end of 2018 plus an additional 15 to 20 stores by 2019. Previously, Green Thumb Industries only generated operating revenues in Nevada, Illinois, Pennsylvania, Massachusetts, and Maryland. In the works of the company are plans of moving into New Jersey, Connecticut, California, and Colorado.
Is it a Good Time to Buy?
Green Thumb Industries has long been under the radar, even with its latest expansion, mainly due to the large volume of transactions and deals that its major competitors have been putting up. Even with Q4 revenues of $20.8 (better than most of the competition) Green Thumb seems to be getting the passive nods of investors.
To get a more detailed look at how the company is doing, its Q1 results scheduled to be released on May 30 can be a good indication of where the company is heading. However, with the company quietly expanding into more markets, the future certainly looks green for Green Thumb Industries.
About Green Thumb Industries
Green Thumb Industries, a national cannabis consumer packaged goods company and retailer, is dedicated to providing dignified access to safe and effective cannabis while giving back to the communities in which they serve. GTI manufactures and distributes a portfolio of branded cannabis products including Rythm, Dogwalkers, The Feel Collection, and Beboe, among others. The company also owns and operates a rapidly growing national chain of retail cannabis stores called Rise™. Headquartered in Chicago, Illinois, GTI has 11 manufacturing facilities, licenses for 77 retail locations and operations across 12 U.S. markets. Established in 2014, GTI employs approximately 650 people and serves thousands of patients and customers each year. GTI was named a Best Workplace 2018 by Crain’s Chicago Business. More information is available at GTIgrows.com.
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