Green Thumb Industries Inc

In this part of our cannabis valuation series, we’ll discuss the multiples of the remaining cannabis stocks and compare them to the peer (MJ) median of 24x.

Canada legalized cannabis in October 2018, so investors expected 2019 to drive marijuana sales. However, the fate of the industry took a sharp turn.

Last week, the overall cannabis sector remained subdued. Sector ETFs, such as the Horizons Marijuana Life Sciences ETF (HMMJ), closed about 8.15% lower.

The cannabis industry is doing its own research amid COVID-19. Researchers discovered that marijuana might have properties to fight the coronavirus.

Cannabis sales have been soaring in all of the US states that classified it as an “essential item” amid the pandemic. Illinois has seen tremendous growth.

Marijuana products are top-rated among Americans. Illinois will see recreational marijuana products for sale on January 1.

Democrats and Republicans have always had opposing views about marijuana legalization. Republicans could gain voters if they support legalization.

Aurora Cannabis saw less of an impact from COVID-19 in the third quarter. Cannabis is an essential item amid the pandemic.

Cannabis is in demand now amid the pandemic, and sales are rising. US marijuana companies have seen significant revenue gains.

To survive amid the current COVID-19 crisis, OrganiGram (NASDAQ:OGI) announced restructuring changes including a 25% cut in its workforce.

Curaleaf (OTCMKTS:CURLF) is one of the vertically integrated US cannabis companies. The company has been a top player in the US cannabis space.

Curaleaf (OTCMKTS:CURLF) acquired a “Select” brand in February 2020. The company received positive feedback in medical and adult-use markets.

On June 27, Green Thumb Industries (OTCMKTS:GTBIF) opened its fifth Essence brand store in Las Vegas and its 48th retail store in the US.

Canopy Growth entered into an agreement with US-based cannabis company Acreage Holdings last year. However, the company announced some changes.

Acreage Holdings (OTCMKTS:ACRGF) will likely report its results for the first quarter of fiscal 2020 on Friday before the market opens.

The growth in Illinois’s cannabis market is evident from its record sales in May. The state sold adult-use cannabis worth $44.3 million in May.

Illinois sold recreational cannabis worth $44.3 million in May—the highest amount since it legalized recreational sales in January this year.

Cresco Labs (OTMKTS:CRLBF) started fiscal 2020 on a good note with strong first-quarter results. The company had triple-digit revenue growth.

On Monday, Green Thumb Industries (OTCMKTS:GTBIF) opened a Rise brand store in Chambersburg, Pennsylvania—its 46th store in the US.

Cresco Labs (OTCMKTS:CRLBF) is trading 1.8% higher as of 9:44 AM ET today. The company received a provisional processing license by the state of Ohio.

The cannabis market in Illinois has been growing despite the COVID-19 pandemic. Illinois legalized recreational cannabis on January 1, 2020.

George Floyd’s death has led to mass protests in the US. Notably, social injustice was one of the main motives behind legalizing marijuana.

Amid the protests following George Floyd’s death in the US, MedMen temporarily closed all of its stores. The stock fell after the news.

Governor Grisham thinks that marijuana is a good option to help New Mexico recover from the economic losses amid COVID-19.

So far in 2020, Green Thumb Industries has returned 6.0%—one of the few cannabis companies with positive returns this year.

MedMen Enterprises (OTCMKTS:MMNFF) is scheduled to report its financial results for the third quarter of fiscal 2020 on May 27 after the market closes.

While other cannabis companies have been struggling to stay afloat, Canopy Growth launched the second wave of Cannabis 2.0 products.

Tilray (NASDAQ:TLRY) posted its first-quarter earnings on May 11. The revenue growth was impressive in the first quarter.

On April 7, the NYSE sent a listing notification to Hexo. The warning said that the stock fell below the NYSE’s $1.00 share price continued listing standard.

Green Thumb Industries reported impressive results for the first quarter of fiscal 2020 on Thursday after the market closed.

Texas has suffered huge economic losses. Many industry experts think that marijuana legalization could be a good option to revive the state’s economy.

Marijuana companies in the US have been struggling to get financial and banking access. Cannabis still isn’t legal at the federal level.

Green Thumb Industries (OTCMKTS:GTBIF) will likely report its results for the first quarter of fiscal 2020 on May 14 after the market closes. 

According to a report by Barron’s on January 7, Stifel analysts expect a rebound in the cannabis sector in the first half of 2020.

On January 3, a Cantech Letter stated that Beacon Securities analyst Russell Stanley is bullish on Green Thumb Industries.

Yesterday, Illinois debuted the sale of adult-use cannabis. Green Thumb Industries announced that it opened its first adult-use cannabis store in the state.

On June 25, Illinois governor J.B. Pritzker signed a bill approving marijuana use for everyone over 21 years old. The law became effective on January 1.

Today, Aurora Cannabis (ACB) was trading 11.2% higher at 12:06 PM ET. The company had lost 63.3% of its stock value YTD as of Monday.

Green Thumb Industries (GTII) (GTBIF) is a cannabis CPG (consumer packaged goods) company and retailer with headquarters in Chicago, Illinois.

As of December 24, Supreme Cannabis was trading at 0.66 Canadian dollars. The company has lost 50% of its stock value this year. Has its stock bottomed out?

Boosted by the strong performance from the broader equity market, the cannabis sector was trading in the green today.

Recently, leading cannabis companies Green Thumb Industries (GTBIF) and Liberty Health Sciences (LHSIF) launched retail stores in new locations.

Today, the cannabis sector was trading in the red, with multiple ETFs losing ground. Here, we’ll have a look at cannabis stocks that are in the news today.

In November, Democratic lawmakers dropped the bill for legalizing recreational marijuana in New Jersey through the Senate.

After falling for the first two days this week, the cannabis sector maintained that weakness today. Let’s look at some cannabis stocks that are in the news.

CNBC reports that Chinese officials aren’t confident of sealing a long-term US trade agreement. The cannabis sector was trading in the red today.

Today CannTrust Holdings is trading at $1.30 on the NYSE, 25.60% higher than its last closing price. It’s risen even faster on the Toronto Stock Exchange.

This year, the cannabis sector has been underperforming the broader equity market. Will cannabis stocks bleed more after MKM Partners’ bearish outlook?

The cannabis sector was trading in the red for the week ended October 3. The sector’s ETFs broadly ended the week in negative territory.

Cannabis stocks remained under pressure in September. Weak investor sentiment for the cannabis sector was a factor in the last week of the month.

On October 1, the US markets were trading in the red due to weak manufacturing data. The cannabis sector also suffered from the weak manufacturing data.

Last week, ending on September 27, the cannabis sector was weighed down by the bears. Sector ETFs broadly ended the week in negative territory.

Despite Aurora Cannabis’s subdued results, Cowen initiated coverage on five cannabis stocks: CRLBF, GTBIF, CURLF, MMNFF, and ACRGF.

Green Thumb is still trading in the positive territory this year. The company has fallen more than 25% since its first-quarter earnings.

The cannabis sector has seen one of its weakest months so far this year with most stocks trading lower since the beginning of April.

The US cannabis industry is beginning to brew. More legislators are working to make cannabis a legal commodity at a federal level.