Green Thum Stock Price, News & Analysis

Green Thumb Industries (GTBIF) has launched its first Social Impact Report, detailing initiatives across four key areas: Community Engagement, Diversity, Equity & Inclusion, Restorative Justice, and Environmental Stewardship. The company has contributed over $3.5 million since 2021 to support various organizations and initiatives. Highlights include nearly $600,000 donated to community organizations, over $1.5 million directed towards nonprofit groups assisting communities affected by the War on Drugs, and innovative measures to reduce environmental impact. Founder Ben Kovler emphasized the ongoing commitment to amplifying positive community impact.

Green Thumb Industries (GTBIF) will release its fourth quarter and full year 2022 financial results on February 28, 2023, after market close. The company will hold a conference call at 5:00 p.m. ET to discuss the results and address shareholder inquiries. Green Thumb, a prominent player in the cannabis industry, operates 77 retail locations and has 18 manufacturing facilities across 15 U.S. markets. Established in 2014, it employs approximately 3,800 people and is focused on promoting well-being through cannabis while contributing to its communities.

Green Thumb Industries has introduced a limited-edition product, 50 Shades of Grape gummies, aimed at enhancing Valentine's Day celebrations in Illinois. Launching on January 23, 2023, these gummies are crafted with a cannabinoid ratio of 50 mg THC and 50 mg CBD per pack, offering a mood-setting experience. The brand recognizes a growing trend where cannabis is preferred over alcohol for intimacy, with adult-use cannabis sales increasing 7% on Valentine's Day in 2021. This trend aligns with consumer insights indicating that cannabis enhances personal relationships.

Green Thumb Industries (CSE: GTII, OTCQX: GTBIF) announced key executive promotions effective January 1, 2023. Anthony Georgiadis has been promoted to President, with responsibilities for operational and financial matters. Matt Faulkner will become Chief Financial Officer, succeeding Georgiadis, and Bret Kravitz will take the role of General Counsel. Rachel Albert is appointed as Chief Administrative Officer, while Dawn Wilson Barnes joins the board as an independent director. These changes are designed to enhance leadership strength amidst the evolving cannabis industry.

Green Thumb Industries (GTBIF), a prominent cannabis consumer packaged goods company, announced its participation in the Cowen 5th Annual Cannabis Conference on December 6, 2022. The event features one-on-one meetings and a fireside chat with CEO Ben Kovler discussing industry trends. Headquartered in Chicago, Green Thumb operates 77 retail locations and 17 manufacturing facilities across 15 U.S. markets, employing approximately 3,800 people. Established in 2014, the company has earned recognition as a top workplace and was featured on Crain’s Fast 50 list.

Green Thumb Industries (CSE: GTII, OTCQX: GTBIF) announced its third round of grant funding through its Good Green brand, aimed at supporting communities affected by the War on Drugs. Four nonprofit organizations will receive unrestricted grants of $50,000 each to promote initiatives in expungement, education, and employment. The recipients include The Petey Greene Program, Minority Cannabis Academy, Cannabis Equity IL Coalition, and Nolef Turns Inc. This initiative reflects Good Green's commitment to address cannabis-related injustices and reinvest in impacted communities.

Green Thumb Industries reported financial results for Q3 2022, highlighting a 3% sequential and 12% year-over-year revenue increase to $261 million. The year-to-date revenue reached $758 million, marking a 17% rise. The company posted a GAAP net income of $10 million or $0.04 per share for the ninth consecutive quarter. Adjusted Operating EBITDA grew by 7% to $84 million, equating to 32% of revenue. Green Thumb also announced plans for RISE Express medical dispensaries in Florida, aiming to enhance consumer access.

Green Thumb Industries has announced an expansion of its retail operations in Florida through an exclusive lease agreement with Circle K, aiming to establish approximately ten RISE Express dispensaries in 2023. This strategic partnership leverages Circle K's 600 locations to enhance cannabis accessibility for patients. Products will be sourced from Green Thumb's new 28-acre cultivation facility in Ocala. With over 700,000 registered medical marijuana patients in Florida, the initiative signifies a significant opportunity for growth in the burgeoning cannabis market.

Green Thumb Industries Inc. has appointed Richard Drexler and Jeff Goldman to its Board of Directors, following the resignation of three board members. Drexler, an experienced financial executive, will chair the Audit Committee. Goldman, a seasoned entrepreneur, brings extensive CPG brand experience. The resigning directors stated their departure was due to disagreements over company policies, not performance or financial issues. Founder Ben Kovler emphasized the opportunity for increased shareholder value with the new board alignment as the company advances its growth strategies.