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Green Thumb CEO on its Q3 estimates beat, election results
Green Thumb Industries continues to demonstrate the incredible growth potential of the cannabis industry. CEO Ben Kovler joined CNBC to share what drove GTI’s successful results this past quarter. GTI has differentiated itself due to its conservative approach to capital allocation, an ability to avoid overextending itself, and through the pursuit of the highest ROI opportunities within the markets where it already operates.
Jerry Garcia’s cannabis line debuts with an airstream and a Deadhead ambassador
Cannabis and the Grateful Dead go together like peas and carrots. Now, the Garcia family has partnered with Holistic Industries to deliver an authentic Deadhead brand. Garcia’s daughter Trixie explained the idea was to create a brand to honor her father “in an authentic way that would delight the fans.” “We picked Holistic Industries based on shared values, a proven track record of successful operations, scalability across multiple states and their ability to launch and market new brands; not to mention they have a senior leadership team full of Deadheads.”
Institutional investor buys $79 million of Green Thumb Industries stock
New Cannabis Ventures
On October 30th, Green Thumb Industries disclosed the sale of approximately $79 million of subordinated voting shares. The sale demonstrated institutional appetite for industry as shares were sold to a single, undisclosed institutional buyer with the stock price near a 52-week high.
4Front Ventures inks $30 Mln sale-leaseback deal with Innovative Industrial Properties
"Entering this sale-leaseback transaction marks a significant milestone in our stated strategy to further strengthen our balance sheet, providing us greater flexibility to fund our growth initiatives. The successful closing of this transaction positions us well as we enter 2021, with our laser focus on profitable growth within our core markets of Massachusetts, Illinois, California, Washington and Michigan," said Leo Gontmakher, CEO of 4Front Ventures.
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The Rising Tide of Legalization: November 6, 2020
A green wave crashed over the U.S. this past Tuesday as voters across the country said yes to cannabis legalization. Five states passed cannabis adult-use and medical legalization initiatives, opening up possibilities of cannabis consumption from Atlantic City, New Jersey, to Mount Rushmore in South Dakota. More than a third of Americans now live in a state where recreational cannabis use is legal. “The rising tide of legalization” continues to lift the industry and move it forward. 1 in 3 Americans now lives in a state where recreational marijuana is legal: “More than 1 in 3 Americans will live in states where marijuana is legal for adults to use. New Jersey and Arizona, with 8.9 million and 7.3 million residents, respectively, are the biggest wins for advocates this year. Legalization in New Jersey is expected to create a domino effect for legalization in other large East Coast states, including Pennsylvania and New York.”