Welcome to our dedicated page for Green Thum news (Ticker: GTBIF), a resource for investors and traders seeking the latest updates and insights on Green Thum stock.
Green Thumb Industries Inc. (GTBIF) generates frequent news as a national cannabis consumer packaged goods company and retailer with operations across 14 U.S. markets. Headquartered in Chicago, Illinois, the company reports on its financial performance, brand developments and expansion of its RISE Dispensaries retail chain.
News coverage commonly includes quarterly earnings releases prepared in accordance with U.S. GAAP, where Green Thumb discusses revenue trends, adjusted EBITDA, cash flow from operations and other financial metrics. These updates often highlight performance in its consumer packaged goods segment and retail segment, along with commentary on market conditions such as pricing dynamics in key states.
Readers can also expect announcements about new RISE Dispensaries openings in states like Pennsylvania, Florida, Ohio and Nevada, as well as updates on the launch of adult-use cannabis sales at existing locations in markets such as Minnesota. These articles typically describe how new stores expand access for medical patients and adult-use customers where permitted, and how grand opening events support local nonprofit organizations.
Additional news items cover corporate actions and strategic transactions, including share repurchase programs authorized by the board of directors and brand or intellectual property transactions with partners such as Agrify Corporation. Green Thumb also issues releases on its social impact initiatives through the “Growing For Good” program, documenting efforts in community engagement, restorative justice, inclusion and belonging, and environmental stewardship.
Investors and observers who follow GTBIF news can use this page to monitor earnings announcements, retail expansion, capital allocation decisions, licensing and brand developments, and updates on the company’s social and environmental programs.
Green Thumb Industries will host a conference call on May 12, 2021, at 5:00 p.m. ET to discuss its Q1 2021 financial results. Interested parties can join by dialing 833-502-0470 (Toll-Free) or 236-714-2182 (International) with conference ID: 6438759. A live audio webcast will also be available on the Investor Relations section of the company's website. Green Thumb, based in Chicago, operates 13 manufacturing facilities and holds licenses for 97 retail locations across 12 U.S. markets, aiming to promote well-being through cannabis products.
Green Thumb Industries (GTBIF) announced the appointment of Swati Mylavarapu to its Board of Directors, effective April 7, 2021. Mylavarapu brings nearly a decade of experience in technology and investments, having founded Incite.org and previously worked at Kleiner Perkins. CEO Ben Kovler expressed excitement over her unique skills in innovation and social impact. Mylavarapu aims to contribute positively to Green Thumb, aligning with its mission to benefit communities and advocate for social change. Green Thumb operates 97 retail locations across 12 U.S. markets, employing over 2,400 people.
Green Thumb Industries, a prominent cannabis consumer packaged goods company, announced its participation in two key conferences in April 2021. The founder and CEO Ben Kovler will be featured on a panel at the ROTH Virtual Golden Cannabis Day on April 7, 2021. Additionally, management will engage in one-on-one meetings at the Stifel Canada Cross Sector Insight Conference on April 21, 2021. Green Thumb operates a significant portfolio of branded products and retail locations across the U.S., employing over 2,400 individuals.
Green Thumb Industries (GTBIF) refutes allegations of an open federal investigation regarding its business practices. The claims originated from a Chicago Tribune report lacking credible sources. CEO Ben Kovler criticized the report for being misleading and emphasized that the company has legally obtained its licenses through competitive state programs. Green Thumb demands a retraction from the Chicago Tribune, emphasizing its commitment to compliant business operations and community well-being. The company operates 13 manufacturing facilities and holds licenses for 97 retail locations.
Green Thumb Industries reported impressive financial results for Q4 2020, with revenues of $177.2 million, reflecting a 133.8% YoY increase. For the full year, revenue rose 157.2% to $556.6 million. The company achieved a net income of $22.5 million in Q4, its second consecutive quarter of positive GAAP net income. Adjusted Operating EBITDA also surged by 374.0% YoY, reaching $65.4 million, indicating strong operational performance. Green Thumb raised $156 million following its IPO, enhancing its balance sheet and capital for future growth.
Green Thumb Industries (GTI) has opened its second Rise™ dispensary in New Jersey, located in Paramus, marking the 54th store nationwide. The first-day sales will benefit the Paramus Children’s Health Foundation, supporting families facing economic hardship due to children's serious illnesses. CEO Ben Kovler highlighted the new location’s accessibility for over 100,000 registered medical cannabis patients in the state. Rise Paramus offers online reservations for in-store pickups and operates Monday to Friday from 10 a.m. to 7 p.m., and Saturdays from 10 a.m. to 5 p.m.
Green Thumb Industries has opened its first retail store, Essence Pasadena, in California, expanding its presence to 11 states with 53 locations nationwide. The grand opening is set for March 20, 2021, with profits from the first day benefitting the Pasadena Chamber of Commerce Foundation's Minority Small Business Initiative. California's legal cannabis market is projected to reach annual sales of $6.9 to $8.1 billion by 2024, contributing over $1 billion in tax revenue since 2018. Customers can pre-order, use curbside pickup, or opt for delivery at the new store.
Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) has announced an exclusive partnership with Cann to manufacture and distribute cannabis-infused sparkling beverages, starting in Illinois this spring. Green Thumb aims to tap into the growing cannabis beverage market, which has seen significant growth, with Cann becoming California's #1 cannabis beverage brand, achieving over 600% growth in sales in 2020. Cann’s beverages are marketed as a healthier alternative to alcohol, being low in sugar and calories, and made with all-natural ingredients.
Green Thumb Industries (GTBIF) announced its participation in the Needham 2nd Annual Virtual Cannabis Conference on March 3, 2021, where management will engage in one-on-one meetings. As a national cannabis consumer packaged goods company, Green Thumb operates Rise™ retail stores and has a diverse portfolio of branded products. The company boasts 13 manufacturing facilities and licenses for 97 retail locations across 12 U.S. markets, employing over 2,300 people. Green Thumb has been recognized as a Best Workplace by Crain’s Chicago Business and MG Retailer magazine in 2018 and 2019.
Green Thumb Industries announced it raised approximately $56 million through the sale of 1.6 million subordinate voting shares at US$35.50 per share, following a $100 million sale earlier this month. The offering, declared effective by the SEC, aims to enhance the company's capitalization and financial flexibility. CEO Ben Kovler highlighted the strong investor demand as a sign of growing confidence in the U.S. cannabis market. The sale will close on February 23, 2021, and further details can be accessed through the SEC website.
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