Green Thumb Industries Inc (OTCMKTS: GTBIF) has been on the RISE again after a slight pullback and consolidation. Green Thumb Industries has transformed into a volume leader and is currently among the top most traded stocks on the OTCBB.

Cannabis is booming; according to a recent report from Arcview Market Research and its research partner BDS Analytics, over the next 10 years, the legal cannabis industry will see much progress around the globe and spending on legal cannabis worldwide is expected to hit $57 billion by 2027. The adult-use (recreational) market will cover 67% of the spending; medical marijuana will take up the remaining 33%. The largest group of cannabis buyers will be in North America, going from $9.2 billion in 2017 to $47.3 billion a decade later. Of course much of this hinges on how laws progress

Green Thumb Industries Inc (CSE: GTII) (OTCMKTS: GTBIF) is a national cannabis cultivator, processor and dispensary operator. The Company 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.

Green Thumb owns and operates a rapidly growing national chain of retail cannabis stores called RISE™ 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. GTI was named a Best Workplace 2018 by Crain’s Chicago Business. More information is available at GTIgrows.com.

The big story on Green Thumb is the incredible revenue growth here; the Company reported sales of $13.6 million for the second quarter ended June 30, 2018 as compared to $3.5 million for the second quarter of 2017 and $10.9 million for the first quarter of 2018. The year-over-year revenue increase was primarily driven by increased wholesale distribution of its finished branded products to retail customers in Illinois and Maryland, along with increased foot traffic in the Company’s retail stores across all five markets. In particular, year-over-year retail growth was driven by new store openings and acquisitions: notably revenue from the acquisition of two Illinois stores, the opening of RISE stores in Pennsylvania and Maryland, a new RISE store in Nevada and the commencement of adult use sales in the Nevada market. Gross profit before biological asset adjustment for the second quarter of 2018 was $6.3 million or 46%, as compared to $1.7 million or 50% for the second quarter of 2017. Gross profit after net gains on biological asset transformation for the second quarter was $6.9 million, representing a gross margin of 50%, as compared to 36% for the same period a year ago, and driven by increased harvested cannabis and wholesale shipments.

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Green Thumb Founder and Chairman Ben Kovler said “The second quarter was a critical quarter for GTI. We became a publicly-traded company on June 13th. The team has been hard at work and that is reflected in the results for our first reporting period as a public company – generating solid revenue growth, raising capital, entering new markets and attracting top talent. Over the past four years, we’ve built a solid base business on that conviction and our strategy to distribute brands at scale is supported by our vertically integrated business and leading national distribution platform across eight states with a total reach of over 94 million people. ”

Earlier this year Green Thumb closed a bought deal financing with a syndicate of underwriters led by GMP Securities L.P for aggregate gross proceeds to GTI of $88,400,000. In October Green Thumb closed an additional CAD$101.66 million bought deal financing with a syndicate of underwriters led by GMP Securities L.P.

Last week Green Thumb divested all its membership interest in VCP Bridge, LLC, which holds warrants issued by iAnthus Capital Holdings Inc. to an unaffiliated third party. The closed transaction reflects GTI’s disposition of all direct and indirect interest in warrants issued by iAnthus.

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Currently trading at a $3 billion market valuation Green Thumb Industries has $112 million in the treasury, under $10 million in current liabilities and significant fast growing revenues 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. Green Thumb 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 as well as eight manufacturing facilities. Currently there is huge demand for Green Thumb as the stock continues to make new highs. 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.

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