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Can Green Thumb Industries Inc (OTCMKTS:GTBIF) Get Some Traction Following Primary Data?

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Green Thumb Industries Inc (OTCMKTS:GTBIF) is another cannabis player to hit the wires with its quarterly financials. This comes at a very important point for the stock on a technical level. Tomorrow will likely be very interesting for GTI, with the key $11 level at stake.

“This was another quarter of solid financial and operational results as we build our foundation for the future. We have been focused on expanding wholesale capacity to meet increasing demand, opening new RISE™ stores and are unwavering in our diligent effort building a world-class team. To support our strong retail pipeline, we added experts to the team in retail operations, real estate, design and construction, and marketing and communications from retail giants such as Nordstrom, Starbucks, Home Depot, Whole Foods, Apple and Nike. We are excited about what’s ahead for RISE™ as we accelerate the growth of this exceptional business,” said GTI Founder and Chief Executive Officer Ben Kovler.

Green Thumb Industries Inc (OTCMKTS:GTBIF) as a producer and distributor of cannabis products including flower, concentrates for dabbing and vaporizing, edibles, and topicals. The company markets its products through third party retailers. It also owns and operates a chain of 50 retail stores under the RISE dispensaries name. The company was founded in 2014 and is headquartered in Chicago, Illinois.

The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!

The company is a national cannabis cultivator, processor and dispensary operator, is dedicated to providing dignified access to safe and effective cannabis nationwide while giving back to the communities in which they serve.

As a vertically integrated company, GTI manufactures and sells a well-rounded suite of branded cannabis products including flower, concentrates, edibles, and topicals. The company also owns and operates a rapidly growing national chain of retail cannabis stores called RISE(TM) dispensaries.

Headquartered in Chicago, Illinois, GTI has seven manufacturing facilities and licenses for 50 retail locations across seven highly regulated U.S. markets. Established in 2014, GTI employs more than 350 people and serves hundreds of thousands of patients and customers each year.

The company was actually also named a Best Workplace 2018 by Crain’s Chicago Business.

 

Whereto From Here?

As noted above, GTBIF just announced its quarterly data, in which Q3 revenues increased 344% year-over-year to $17.2 million, quarter-over-quarter revenues increased 26%, EBITDA1 came in at $3.4 million for the quarter, adjusted EBITDA dropped at $0.4 million, net loss came in at $3.3 million, current assets totaled $166.2 million as of September 30, 2018, including cash and cash equivalents of $149.8 million.

In addition, the company has approximately $7.6 million of total debt, $1.5 million of which is due within 12 months. The Company raised gross proceeds of $140.5 million through two bought deal financings, one subsequent to quarter end.

On August 2, 2018, GTI closed a bought deal financing transaction raising $61.7 million, and on October 17, 2018, GTI closed a bought deal financing transaction raising $78.8 million.

That announcement helped to spark a relief rally in a context of recent action that hadn’t really been a happy time for GTBIF shareholders leading up to the release. But things have ended up basically back where they started going back a week. Shares of the stock have powered higher over the past month, rallying roughly 4% in that time on strong overall action.

“We closed on the acquisition of KSGNF to operate in Florida, closed on the acquisition of an extraordinary retail asset in Boston, and are on track to more than double our footprint in the only limited license adult use market in the country with the strategic acquisition of Nevada’s top operator, Integral Associates, announced earlier this month,” Kovler continued.

“All are important milestones as we position the business for long-term success by distributing brands at scale.”

Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!

   

Learn More About PLSI at your brokerage today!

         

Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Trade


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Trading Symbol

OTC: PLSI

The Next Big Global Cannabis Play