Green Thumb Industries (OTCMKTS:GTBIF) Stock Price Up 13.5% - Here's What Happened

Key Points

• Stock jumped 13.5% in mid-day trading, trading as high as $8.55 and last at $8.17 (previous close $7.2005) on roughly 548,009 shares traded, about 2% above average volume.
• The shares sit above their moving averages (50-day $6.58, 200-day $7.12); the company has a market cap of $1.70 billion, a P/E of 17.04 and a beta of 1.12.
• Green Thumb Industries is a diversified cannabis CPG and retailer operating cultivation, manufacturing, distribution and retail of branded adult-use products across formats such as flower, edibles, oils and vaporizers.

Green Thumb Industries Inc. (OTCMKTS:GTBIF - Get Free Report)'s stock price rose 13.5% during mid-day trading on Wednesday . The stock traded as high as $8.55 and last traded at $8.17. Approximately 548,009 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 537,276 shares. The stock had previously closed at $7.2005.

Green Thumb Industries Price Performance

The stock has a 50 day moving average of $6.58 and a 200 day moving average of $7.12. The firm has a market cap of $1.70 billion, a P/E ratio of 17.04 and a beta of 1.12.

Green Thumb Industries Company Profile

Green Thumb Industries is a diversified cannabis consumer packaged goods company and retailer with operations spanning cultivation, manufacturing and distribution. The company develops branded cannabis products across multiple formats, including dried flower, pre-rolls, oils, concentrates, edibles and vaporizers. Its product portfolio is marketed under well-known brand names tailored to the adult-use market, and the company works with licensed cultivators and partners to ensure consistent quality and compliance with state regulations.

In addition to its branded product lines, Green Thumb Industries maintains a network of wholly owned manufacturing facilities and distribution centers that supply its retail outlets as well as independent dispensaries.

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