If you’re reading this, you probably already know that cannabis stocks have the potential to increase your wealth at an attractive rate over the next 5-10 years. However, with 500 cannabis stocks crowding the sector, it can be difficult to pick the winners. We do find a few of the MSO companies to still be attractive. But why are we bullish on Green Thumb Industries?
Related: Should You Buy Green Thumb Industries Stock?
The wave of cannabis legalization currently sweeping through the U.S., as well as the prospect of decriminalizing or even legalizing adult-use, will be key drivers for licensed producers like Green Thumb Industries.
Here, we take a look at Green Thumb Industries which is currently trading at a deep discount according to Wall Street estimates. In fact, we believe his will certainly allow cannabis stock investors to create market-beating gains in the next year.
So, Why are we Bullish on Green Thumb Industries?
Green Thumb Industries (OTC: GTBIF) is currently trading about 46% below it’s ATH. The company also has a significant upside with a market cap of $4.4 billion. Headquartered in Illinois, Green Thumb Industries has 13 manufacturing facilities, licenses for 111 retail locations and currently operates in 14 domestic markets.
In Q2 2021, the company’s revenue soared 85% year over year to $222 million – driven by strong demand in Pennsylvania and Illinois. In fact, Q2 of 2021 was also the fourth consecutive quarter where Green Thumb reported a profit, with a net income of $22 million compared to a loss of $13 million in the prior-year period.
Related: Why is Green Thumb Industries a Strong Buy?
Green Thumb Industries currently has 65 retail stores and just opened a third store in the state of New Jersey which is a market that recently legalized cannabis for recreational use. While retail sales in New Jersey are expected to begin next year, Green Thumb’s presence in the medical space will enable the company to gain traction in the highly competitive adult-use cannabis vertical as well.
So, why are we bullish on Green Thumb Industries? Well, aside for the aforementioned reasons, analysts expect Green Thumb stock value to rise by 95% in the next 12-months given its average price target of $37.54.
Related: cbdMD: Should You Remain Bullish on this Hemp Stock?
Why are we Bullish on Green Thumb Industries?
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