GGBXF - Green Growth Brands Inc.

Other OTC - Other OTC Delayed Price. Currency in USD
2.0400
-0.0300 (-1.45%)
At close: 3:57PM EDT
Stock chart is not supported by your current browser
Previous Close2.0700
Open2.2050
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range2.0310 - 2.2050
52 Week Range0.7032 - 5.2050
Volume305,126
Avg. Volume266,441
Market Cap331.241M
Beta (3Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
Trade prices are not sourced from all markets
  • Green Growth Brands Announces Expansion with Abercrombie & Fitch to Sell Seventh Sense CBD Products in over 160 Stores
    PR Newswire7 minutes ago

    Green Growth Brands Announces Expansion with Abercrombie & Fitch to Sell Seventh Sense CBD Products in over 160 Stores

    COLUMBUS, June 27, 2019 /PRNewswire/ - Green Growth Brands Inc. (GGB.CN) (GGBXF) (GGB or the Company) today announced the expansion of its partnership with Abercrombie & Fitch (A&F), a division of Abercrombie & Fitch Co. (ANF). The specialty retailer trialed GGB's Seventh Sense Botanical Therapy products in 10 Abercrombie & Fitch stores and it will now carry the CBD products in more than 160 A&F stores. The expansion includes Seventh Sense's CBD-infused body lotions, muscle balms, lip balms and sugar scrubs, and is Green Growth Brands' second major wholesale agreement since the passage of the Agriculture Act of 2018 in December 2018.

  • CNW Group2 days ago

    Green Growth Brands Appoints Jann Parish Chief Marketing Officer

    COLUMBUS, OH, June 25, 2019 /CNW/ - Green Growth Brands, Inc. (GGB.CN) (GGBXF) (GGB or the Company) is pleased to announce the appointment of Jann Parish as Chief Marketing Officer (CMO), effective immediately. Parish, formerly CMO of Victoria's Secret and other global brands, brings brand development, strategic consumer relationship management and digital innovation expertise to the Company.

  • Green Growth Brands Surpasses 50 Seventh Sense CBD Shops Open in Four Months
    PR Newswire15 days ago

    Green Growth Brands Surpasses 50 Seventh Sense CBD Shops Open in Four Months

    Green Growth Brands continues to deliver on its rapid expansion strategy, targeting over 200 shops in operation by the end 2019 COLUMBUS, June 12, 2019 /PRNewswire/ - Green Growth Brands Inc. (CSE: GGB) ...

  • TheStreet.com17 days ago

    Green Growth to Open More Than 70 CBD Shops at Brookfield Properties Malls

    The Toronto-based company said it will have roughly 280 locations by the end of the year. Currently, there are seven GGB shops within the Brookfield Properties' portfolio. "Brookfield Properties operates some of the most exciting and visited malls in the country, and we are thrilled to introduce our CBD shops to their centers," Peter Horvath, CEO of Green Growth Brands, said in a statement.

  • Green Growth Brands Continues Rapid Expansion with Plans to Open Over 70 New Locations at Brookfield Properties' Shopping Centers
    CNW Group17 days ago

    Green Growth Brands Continues Rapid Expansion with Plans to Open Over 70 New Locations at Brookfield Properties' Shopping Centers

    COLUMBUS, OH, June 10, 2019 /CNW/ - Green Growth Brands Inc. (GGB.CN) (GGBXF) ("GGB" or "the Company") announced today an arrangement through which the Company will open over 70 prime shop locations with potential for more at Brookfield Properties' shopping centers throughout the United States . "Brookfield Properties operates some of the most exciting and visited malls in the country, and we are thrilled to introduce our CBD shops to their centers," said Peter Horvath , CEO of Green Growth Brands. With a portfolio of over 160 best-in-class retail real estate assets, Brookfield Properties' retail properties are hubs for communities across the U.S., featuring shopping, dining, entertainment and gathering.

  • Green Growth (GGBXF): A Cannabis Stock to Consider for Long-Term Gains
    SmarterAnalyst21 days ago

    Green Growth (GGBXF): A Cannabis Stock to Consider for Long-Term Gains

    Green Growth Brands (GGBXF) has decided to aggressively go after the retail cannabis market in the U.S., and it is quickly surpassing some of its competitors that have been in business for many year, in the number of outlets it has.While an aggressive strategy has its risks, in my view it's far more risky to embrace a more moderate growth strategy that can easily leave companies unable to compete with competitors scaling out quickly, and the associated benefits included with economies of scale. This is especially true in the retail segment of the cannabis market Green Growth Brands competes in.With that in mind, investors will have to throw out the latest earnings numbers, because in a short time it has already added 18 more retail outlets, and has a lot more that will open by the end of the year.That said, there is one number that is important to watch as it grows, as well as keeping an eye on its balance sheet.EarningsIn the reporting period ended December 31, 2019, Green Growth generated $3,142,620 in revenue, producing gross profit of $1.34 million. Adjusted EBITDA for the quarter was -$8.5 million. Net loss before taxes was -$12,828,815. At the end of the year cash and cash equivalents was at $31.5 million.Breaking down sales by segment, cannabis accounted for $3 million of revenue, and its CBD sales was $64,763.As for the most important number to watch going forward, it is the revenue the company generates per sq. ft. That number was among the best of any retail business, coming in at $15,177 on an annualized basis.While it'll be close to impossible to gauge the company on its overall earnings report for a few quarters because of how fast its adding locations to the business, the one constant that will remain in place is how much the company sells per sq. ft. That will determine demand, but also how accurately management is identifying high-traffic areas.Growth trajectory of its retail shopsAs mentioned, Green Growth is ramping up the number of retail outlets it will sell from. In the last reporting period the numbers were based upon six shops. By the time of its earnings report it had already increased that total to 27, and by the end of June the company said that number will stand at 100. By the end of 2019 it expects the total to soar to approximately 280.One thing investors should keep in mind for your models is there is a lag effect in the retail world, by which I mean the stores all open at different times during the remainder of the year. That means each quarter the number of stores opened with be at a staggered pace. As it relates to its earnings performance, it will result in uneven results through the remainder of the year.We're unlikely to see the full potential until the company releases its first earnings report some time in the second quarter of 2020. By then the stores will have at least a quarter of sales to measure, with many of them having been in business for a couple of quarters.In its last earnings report management said it had performed a blind product test against some popular brands as a benchmark, and found in side-by-side sales, it either matched sales of the highly regarded brand, and in some cases sold three times as much of its product against that unnamed brand.The one caveat is the products were priced at about twice what Green Growth products are, so there is a concern of the company commoditizing its brand by competing on low price.At this stage of its growth this isn't a concern to me because one its own products are more well known, it can take steps to boost prices or lower costs ones it scales sales out. You have to generate revenue first, and then improve efficiencies later.Big acquisition just announcedGreen Growth announced on June 4 it has acquired Florida-based Spring Oaks Greenhouses, Inc. for $55 Million.Spring Oaks has a medical marijuana dispensary license in Florida, and is authorized to operate as a Medical Marijuana Treatment Center in the state. It received a license in April 2019 to produce, process and dispense medical cannabis and cannabis products in Florida.Per the license, the company is allowed but not obligated to open as many as 35 dispensaries in the state, and if Florida Medical Marijuana program exceeds 300,000, it can open up five more dispensaries for a total of 40.Terms of the deal were $26,150,000 in cash; $17,100,000 in issuance of common shares at $2.35 per share; and an $11,400,000 convertible secured promissory note with a maturity date 12 months after the closing date. These shares will be locked up for a period of 16 months after closing.This will increase its MSO presence and sales in the U.S., while it works at increasing CBD sales across the country.ConclusionIn my view, the cannabis companies that generate a profit and survive are those that take risks on the scaling side of the business. As long as they have access to capital, I'm not concerned about earnings in the near term.Green Growth has chosen to go that route, and I think it's the right one to take. It's going to start showing some extraordinary revenue results over the next year, and as it does, the market will start to reward the company.Again, I am looking for from its earnings report in regard to its retail outlets is how much it sells per square foot. The rapid pace of growth makes normal earnings, in the short term, difficult to use as a metric because of the staggered opening of numerous retail stores, which will be operational for different periods of time in the quarters being reported.That's why I'm looking more toward the second quarter of 2020 for a much clearer look at how the company is doing once the dust settles down from all its shop openings.While that's going on, it's continuing to grow its cannabis business, which will be the largest revenue stream for some time.With a visible path to growth, and a willingness to take the risk to become a market leader, Green Growth has the potential to become a big player in the U.S. market.There is risk to investors, but those willing to take a position in the company have an increasing chance of reward than risk, in my opinion.To read more on the nitty gritty of what’s going on in the rising cannabis industry, click here. More recent articles from Smarter Analyst: * Conatus (CNAT) Stock Price Could Hit Zero * Tesla (TSLA) Scrambles to Restore Faith; Wedbush Remains Cautions on the Stock * Micron (MU) Stock Has a New Bull * Has Roku Stock Price Hit Its Peak?

  • Benzinga23 days ago

    Green Growth Brands Enters Florida Medical Marijuana Market

    Green Growth Brands, Inc. (OTC: GGBXF ) will enter the medical marijuana market in Florida through the acquisition of Spring Oaks Greenhouses. Green Growth Brands will pay a consideration of around $54.65 ...

  • Cannabis stocks surge toward first gain in 6 days
    MarketWatch23 days ago

    Cannabis stocks surge toward first gain in 6 days

    Cannabis stocks traded broadly higher Tuesday, as an upbeat industry research note helped provide a welcome reprieve from the string of losses resulting from concerns over regulatory scrutiny and general stock market weakness.

  • Green Growth Brands Continues Rapid Expansion of MSO Business Through Agreement to Acquire Florida Based Spring Oaks
    PR Newswire23 days ago

    Green Growth Brands Continues Rapid Expansion of MSO Business Through Agreement to Acquire Florida Based Spring Oaks

    Spring Oaks holds a medical marijuana dispensary license and authorization to operate as a Medical Marijuana Treatment Center in the state of Florida. The medical marijuana dispensary license, received in April of this year, authorizes Spring Oaks to initiate production, processing, and dispensing of medical marijuana and marijuana products.

  • Green Growth Brands Generates Solid Sales Growth in Q1
    Motley Fool28 days ago

    Green Growth Brands Generates Solid Sales Growth in Q1

    But the U.S. cannabis company's bottom line got a little worse in the first quarter.

  • Benzinga28 days ago

    Green Growth Reports Q3 Earnings Growth

    Green Growth Brands Inc. (OTCQB: GGBXF ) released fiscal third-quarter 2019 results, with revenue at its Nevada cannabis operations growing to $5.1 million. Green Growth reported total revenue, including ...

  • Green Growth Brands Reports Third Quarter Fiscal 2019 Financial Results
    CNW Group29 days ago

    Green Growth Brands Reports Third Quarter Fiscal 2019 Financial Results

    Green Growth Brands Reports Third Quarter Fiscal 2019 Financial Results

  • PR Newswirelast month

    Green Growth Brands Announces Grant of Restricted Share Units

    COLUMBUS, May 24, 2019 /PRNewswire/ - Green Growth Brands, Inc. (GGB.CN) (GGBXF) ("GGB" or the "Company") is pleased to announce that its board of directors has approved the grant of an aggregate of 595,000 restricted share units (the "RSUs") under the Company's equity incentive plan (the "Plan") to certain of its employees (the "RSU Recipients"). The RSUs will be granted to the RSU Recipients as a compensation for their services to the Company and as an incentive mechanism to foster the interest of such persons in the long-term success of the Company. Each RSU will carry the right to receive one common share of the Company upon vesting.

  • PR Newswirelast month

    Green Growth Brands to Hold Third Quarter Fiscal 2019 Earnings Conference Call on May 30, 2019

    COLUMBUS, OH, May 23, 2019 /PRNewswire/ - Green Growth Brands Inc. (GGB or the Company) (GGB.CN) (GGBXF) today announced it will report results for the third quarter fiscal 2019, which ended March 31, 2019, at approximately 5:00 PM EDT on Wednesday, May 29, 2019. In conjunction with the release of its financial results, GGB will host a conference call and audio webcast with Chief Executive Officer, Peter Horvath, and Chief Financial Officer, Brian Logan, at 8:30 AM EDT on Thursday, May 30, 2019. The call and replay archive will be accessible on Green Growth Brands' Investor Relations website.

  • Green Growth Brands Announces Grant of Deferred Share Units and Common Shares to Strategic Consultant
    CNW Grouplast month

    Green Growth Brands Announces Grant of Deferred Share Units and Common Shares to Strategic Consultant

    COLUMBUS, OH, May 22, 2019 /CNW/ - Green Growth Brands, Inc. (GGB.CN) (GGBXF) ("GGB" or the "Company") is pleased to announce the grant of an aggregate of 212,636 deferred share units (the "DSUs") under the Company's equity incentive plan (the "Plan") to certain of its non-executive directors (the "DSU Recipients"). The DSUs will be granted to the DSU Recipients as a compensation for their services to the Company. Each DSU will carry the right to receive one common share of the Company upon vesting.

  • Green Growth Brands Announces the Closing of Second Nevada Cultivation Facility
    CNW Grouplast month

    Green Growth Brands Announces the Closing of Second Nevada Cultivation Facility

    COLUMBUS, OH, May 17, 2019 /CNW/ - Green Growth Brands, Inc. (GGB.CN) (GGBXF) ("GGB" or "the Company") is pleased to announce the completion yesterday, May 16, 2019 , of its previously announced acquisition of a Pahrump, Nevada cultivation facility, operated by Wellness Orchards of Nevada LLC (WON) and Panorama WON LLC (Panorama), for a purchase price of USD$13,372,162 (CAD$16,749,970) .  The Company initially announced the acquisition on December 13, 2018 . The closing of this acquisition brings GGB's Nevada cultivation footprint to two facilities, positioning the company to supply its retail operations and enhance its current cannabis wholesale operations.