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Tuesday, November 29, 2022

Green Thumb Industries Inc (CSE: GTII) (OTCMKTS: GTBIF) Rise™ Dominate In Cannabis

Green Thumb Industries Inc (CSE: GTII) (OTCMKTS: GTBIF) is one exciting cannabis play that is moving steadily higher and heating up significantly in recent trading. Currently on a powerful rise Green Thumb used to trade at much higher prices and has a significant gap to fill from current levels.

Its easy to get excited about Green Thumb; the Company recently opened its 48th retail location in the nation in South Durango Las Vegas and is doing booming sales reporting total revenue for the first quarter 2020 increased 267.6% year-over-year and 35.4% quarter-over-quarter to $102.6 million.

Green Thumb Industries Inc (CSE: GTII) (OTCMKTS: GTBIF) is a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores. Green Thumb manufactures and distributes a portfolio of branded cannabis products including Beboe, Dogwalkers, Dr. Solomon’s, incredibles, Rythm and The Feel Collection.

The company owns and operates rapidly growing national retail cannabis stores called Rise™ and Essence. Headquartered in Chicago, Illinois, Green Thumb has 13 manufacturing facilities, licenses for 96 retail locations and operations across 12 U.S. markets.  Established in 2014, Green Thumb employs over 1,700 people and serves thousands of patients and customers each year. The company was named a Best Workplace 2018 by Crain’s Chicago Business and MG Retailer magazine in 2018 and 2019.

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Microcapdaily first reported on Green Thumb in August 2018 reporting on the Company at the time: Green Thumb is reporting $13.6 million in sales for the 2nd quarter ended June, 6, 3018, as compared to $3.5 million for the second quarter of 2017. GTII is well positioned to become a market leader in the booming recreational cannabis market; the Company operates the rapidly growing national chain of retail cannabis stores called RISE™ dispensaries with 59 retail locations across eight highly regulated U.S. markets. The Company also operates eight manufacturing facilities.

In May Green Thumb reported its financial results for the first quarter ended March 31, 2020.  Total revenue for the first quarter 2020 increased 267.6% year-over-year and 35.4% quarter-over-quarter to $102.6 million.

CEO Ben Kovler stated: “Green Thumb continues to execute as we launched adult use sales in Illinois at the start of the year with great success. The positive feedback we have received from communities and regulators, coupled with strong consumer demand, even in the face of COVID-19, validates the essential reality of the cannabis industry. As COVID-19 persists, our top priorities continue to be the safety of our team, customers, and supply chain, while providing uninterrupted access to products that our customers use for their well-being. Our Leadership Response Team has implemented operational measures following CDC guidelines to support the safety of our teams and customers. We also accelerated the buildout of our omnichannel  infrastructure to better serve our customers, including e-commerce, customer service, delivery and curbside pickup.”

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Currently running up the charts Green Thumb Industrie is one exciting cannabis play that is moving steadily higher and heating up significantly in recent trading. Its easy to get excited about Green Thumb; the Company owns and operates rapidly growing national retail cannabis stores called Rise™ and Essence. Headquartered in Chicago, Illinois, Green Thumb has 13 manufacturing facilities, licenses for 96 retail locations and operations across 12 U.S. markets. Green Thumb recently opened its 48th retail location in the nation in South Durango Las Vegas and is doing booming sales reporting Total revenue for the first quarter 2020 increased 267.6% year-over-year and 35.4% quarter-over-quarter to $102.6 million. Currently on a powerful rise Green Thumb used to trade at much higher prices and has a significant gap to fill from current levels. We will be updating on Green Thumb when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Green Thumb.

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Disclosure: we hold no position in Green Thumb Industries either long or short and we have not been compensated for this article

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