Green Thumb Industries Anticipates U.S. Listing, Marijuana Stocks Swell

In the midst of a marijuana stock frenzy, Green Thumb Industries is preparing to go public in the U.S. When is the company's IPO date?

Rachel Curry - Author

Feb. 11 2021, Published 9:25 a.m. ET

With noteworthy brands like Rythm and Rise Dispensaries under its belt, Green Thumb Industries has already made a name for itself in the U.S. However, the company had to keep its investor relations across the border. All that is about to change as the company prepares for a place in the U.S. market.

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Technically, American investors don't have to wait until Green Thumb's market debut to invest, but it makes it a whole lot easier for domestic retail traders. Along with other brands in the marijuana sector, Green Thumb stock has risen 15.26 percent this week as news spreads about the motive.

Green Thumb Industries was already publicly traded β€” but not in the U.S.

Green Thumb Industries is already on the Canadian Securities Exchange (CSE) and the OTC markets. The company trades under the ticker symbol "GTII" on the CSE, while it uses "GTBIF" on the OTC. 

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To cater to its existing stock market presence, Green Thumb Industries offers numerous investor resources on its website. Think earnings reports, analyst coverage, and the full breadth of SEC filings. Of course, you can find these documents for any public company, but the fact that Green Thumb is so transparent shows the standards that marijuana companies must uphold in the market.

With the stateside IPO, Green Thumb is setting a new status quo. Previously, U.S. exchanges could only house Canadian marijuana companies because marijuana is federally legal in Canada. Meanwhile, U.S. companies (like Green Thumb and Curaleaf) had to hop over to Canadian exchanges because marijuana is only legal at state levels in the U.S.

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Currently, marijuana is still a Schedule I drug along with heroin, according to the DEA. In contrast, the pharmaceutical drug OxyContin is a Schedule II drug.

Green Thumb Industries' U.S. market debut

On Feb. 9, an institutional investor purchased 3.1 million voting shares at $32.03 each for a total of $100 million. Green Thumb still won't be able to list on the NYSE or the Nasdaq Exchange. Despite that, the SEC has officially pushed the registration statement (S-1) through in a newsworthy move. 

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Green Thumb Industries won't be on Robinhood until it's traded domestically

Right now, Green Thumb's status as an OTC and CSE stock prevents it from being traded on Robinhood and other online brokerages. The stock will be more readily available after the company officially makes the transition.

How to buy Green Thumb Industries stock

Now, U.S. investors can purchase Green Thumb from the OTC and CSE. Buying international stocks can be done in a few ways:

  1. Investing in an ETF that contains the stock you want to purchase (like the Horizons US Marijuana Index ETF for Green Thumb)
  2. Investing in a global mutual fund that contains the stock you want to purchase (like the Wasatch Micro Cap Value Fund)
  3. Opening a global brokerage account with a domestic broker
  4. Opening a brokerage account in your target country with a local broker

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