|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||9.78 - 10.30|
|52 Week Range||7.55 - 16.68|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||18.13|
It's still too early in 2020 to proclaim the cannabis equity and exchanged traded funds rebound legitimate, but at least a comeback is materializing. The still maturing resurgence is important following ...
Despite waning investor optimism in the cannabis space, AdvisorShares CEO Noah Hamman says 2020 could be a big year for the sector.
Over 200 Social Equity Applicants Have Participated in LEAP to Date With Many Submitting Dispensary License Applications Programming and One-on-One Consultations Will Now.
The biggest news in the cannabis sector for January is the starting of recreational cannabis sales in Illinois. Sales started on New Year’s Day and several companies are already reporting closing stores due to a lack of enough inventory.Outside of eventual U.S. federal approval, the cannabis companies can benefit greatly from the legalization of cannabis sales at the state levels whether for medical or recreational purposes. Illinois and Michigan recently added recreational use to existing medical cannabis approvals while Florida remains the biggest state with the potential to add recreational sales to a thriving medical cannabis business.Over the initial days of January, Illinois sold over $11 million worth of legal weed from 55 dispensaries. Illinois has the potential of reaching $4 billion in annual sales and building on an existing minimal $250 million medical cannabis market.Analysts have forecasted U.S. cannabis sales topping $16 billion in 2020 while the total global sales may not even reach $20 billion following the weak recreational sales in Canada and the slow rollout of Cannabis 2.0 products. The Illinois market has the potential of matching the current international market of only a few billion dollars highlighting the massive opportunity for U.S. multi-state operators (MSOs).MSOs already in the Illinois market have first mover advantage in this market of 13 million residents and 117 million tourists annually. In addition, the companies with the most cultivation capacity have the potential to thrive while others lack inventory.We’ve delved into these three U.S. cannabis MSOs with a strong market position in Illinois that will benefit from the opening up of the adult-use market. According to TipRanks' Stock Comparison tool, all three currently have a Strong Buy consensus rating and over 70% upside potential.Cresco Labs (CRLBF)Cresco Labs is the proclaimed leader in the Illinois market with 25% market shares. The company has another key opportunity to further grow market share due to three cultivation licenses in comparison to the two licenses listed by other players.The company has the ability to expand to 630,000 square feet of product capacity to become the largest cultivator in the crucial state home to Chicago. Cresco Labs has the ability to supply the other retail dispensaries unlike most competitors.Cresco Labs served 3,145 people on New Year’s Day at five retail dispensaries for an average customer count 629 per store. In total, the company sold 9,258 products with an average ticket price of an incredible $135.The company is in the process of opening five more stores. In total, Cresco Labs obtains over 65% of current revenues from wholesale sales so the company isn’t as focused on pure store openings as most other companies in the industry.Despite the huge benefit of the large Illinois market opening up to recreational cannabis, the stock trades near the yearly lows at about $6.The cannabis producer looks like a very compelling investing opportunity, as TipRanks analytics showcasing the stock as a Strong Buy. With an average price target of $12.23, analysts are predicting massive upside potential of over 100%. In total, Cresco stock has received 6 "buy" ratings with no "holds" or "sells" in the last three months. (See Cresco's price targets and analyst ratings on TipRanks)Curaleaf (CURLF)Curaleaf sits as the burgeoning giant in the cannabis sector and Illinois plays a huge role in their growth path. The planned acquisition of Grassroots offers the company prime operations in Illinois to add to an already large revenue base.The company reported Q3 pro-forma revenues of $129 million. Analysts have revenues surging to $199 million in Q2, $236 million in Q3 and $290 million next Q4. The growth is based highly on the acquisitions of Select and Grassroots combined with the addition of substantial revenues from recreational cannabis in Illinois.The Grassroots deal is expected to close during Q1 shortly after the state opened up for recreational cannabis use. A prime driver of 2020 revenue estimates in a range of $1.0 billion and $1.2 billion and analyst goals for $1.5 billion in revenues by 2021 is the growth opportunity in Illinois.With the closing of the Acres Cannabis deal in Nevada, Curaleaf has 52 existing dispensaries and access to over 130 locations. Grassroots has four stores open in the state that were serving the medical cannabis market and the company is allowed to open four more stores including two in the key city of Chicago. A total of 8 stores in the big Illinois market is a huge positive for the stock.The U.S. MSO stock continues to bounce around $6 as the benefits of the Illinois market are too reliant on the closing of the Grassroots deal providing the stores in Illinois. The Acres deal closing helps provide some confidence in closing the Select and Grassroots deals, but the market is very hesitant on sector stocks until these mergers are closed and integration begins.Curaleaf has a fully diluted market value of $2.8 billion based on 464 million shares outstanding. The deals push the diluted share count to 668 million shares including the 41 million contingent shares for Select. The stock has the potential for a total market value approaching $4.0 billion or only 2.5x 2021 sales estimates.Wall Street is on the same page. This ‘Strong Buy’ received 7 "buy" ratings vs only one "hold" over the last three months. Not to mention its $10.43 average price target suggests 71% upside potential from current levels. (Discover how the overall stock-price forecast for Curaleaf breaks down here)Green Thumb Industries (GTBIF)Similar to Cresco Labs, Green Thumb Industries promoted a successful start to the recreational business in Illinois. The company opened the sixth store in the state just in time for adult-use cannabis sales.The MSO located in Illinois has a listed market value of $1.9 billion and expects to open another store in Quincy within days. In total, GTI will have 10 stores in the state selling cannabis and served thousands of customers on the New Year’s Day without addressing specifics.With the opening of the adult-use store in Joliet, the company now has 40 stores open. GTI has licenses to reach 96 dispensaries in the next couple of years.As mentioned, the stock has a market value of $1.9 billion with revenues estimates set to double to over $475 million in 2020 and reaching $728 million in 2021. The stock trades at a similar multiple of ~2.6x 2021 sales estimates without the same risk of closing pending deals in order to access this key Illinois market.Looking at the consensus breakdown, Wall Street takes a bullish stance on GTI. 6 "buys" issued over the previous three months make the stock a ‘Strong Buy.' It should also be noted that its $19 average price target suggests 108% upside from the current share price. (See GTI price targets and analyst ratings on TipRanks)
CHICAGO and VANCOUVER, British Columbia, Jan. 07, 2020 -- Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods.
(Bloomberg) -- Illinois’ first day of recreational cannabis reached almost $3.2 million in sales with 77,128 transactions, according to state officials.Coming off a dismal year for the industry, the launch of adult-use sales in Illinois is considered a harbinger of better things to come in 2020. The state is the sixth most populous in the U.S., is surrounded by potential customers in states where sales are still illegal, and will likely pressure others to follow suit.“The idea of a domino effect should not be discounted,” Cantor Fitzgerald analyst Pablo Zuanic said in a note published Thursday.Illinois is the 11th state to legalize recreational use of the drug, which remains illegal at the federal level. Expectations are that Illinois can generate between $2 billion to $4 billion in annual legal sales at maturity, well above the less than $300 million spent on medical cannabis in the state in 2019, according to Compass Point analyst Rommel Dionisio, who believes Cresco Labs Inc. and Green Thumb Industries Inc. are best positioned to benefit. After a gain early in the session, cannabis stocks were broadly lower on Thursday. Cresco closed down 4.9% and Green Thumb fell 4.2%.However, illicit sales are expected to continue to outpace legal sales through 2024, according to research from BDS Analytics and Arcview Market Research.Cresco served 3,145 customers on New Year’s Day at its five Sunnyside dispensaries in Illinois, selling 9,258 cannabis products at an average ticket price of $135, the company said in a statement.“The number of people who waited in line in Chicago in cold winter weather and then left with smiling faces after waiting upwards of seven hours was very reassuring that the acceptance of cannabis is real,” Cresco President Joe Caltabiano said in a phone interview.Caltabiano believes the Illinois market could generate as much as $4 billion in sales at maturity, and intends to increase Cresco’s market share above the 25% it achieved in the medical market.Green Thumb, meanwhile, “served thousands of people” on New Year’s Day from its four stores selling recreational marijuana, it said in a press release. It opened its sixth Illinois store on Jan. 1 and plans to expand to 10 in the state.“There’s a lot going on in Illinois,” Ben Kovler, founder and chief executive officer of Chicago-based Green Thumb, said in a December interview.The company, which has cultivation and manufacturing facilities in Rock Island and Oglesby in Illinois, is adding flower rooms, growing capacity, automated production, staff and hours. It expects to spend more than $20 million to scale up “as quickly as possible,” Kovler said.However, Kovler said he expects supply to fall short amid a “tidal wave” of demand given the limited time companies had to grow and process products since the legislation was signed this past summer.Chicago-based Revolution Global, formerly Revolution Enterprises, in August began expanding its facility near Peoria, Illinois to meet new demand. The current supply chain and growing area may not be enough given the demand for medical and recreational use, said Mark de Souza, chief executive officer of Revolution.“We are in a time crunch,” he said.The legalization of adult use marijuana has many complexities and layers in Illinois. It’s put a brighter spotlight on long-lingering concerns about who has suffered from the war on drugs, how to bring equity to the emerging industry and how to meet projected demand.Illinois Governor J.B. Pritzker has granted 11,017 pardons for those with low-level cannabis convictions and more than 700,000 arrest records may be eligible for relief because of the state’s new Cannabis Regulation and Tax Act, according to a statement on Dec. 31.“Every state that has legalized cannabis has seen high demand and long lines in its earliest weeks, and to be sure, our state will too,” Pritzker said in the statement. “But unlike other states, in Illinois, we purposely built a system where the market has room to grow, so that entrepreneurs, including especially those from the communities devastated by the war on drugs, will have real opportunities in this industry.”(Updates with companies’ share prices in fourth paragraph.)To contact the reporters on this story: Shruti Date Singh in Chicago at email@example.com;Kristine Owram in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Elizabeth CampbellFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
Green Thumb Industries Inc. (GTI) (CSE:GTII) (GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced that it opened its 40th store, Rise Joliet, the first adult-use only store in Illinois. “January 1 was a historic day in Illinois as adult-use cannabis sales launched in Illinois, and we’re honored that Rise Joliet is part of that history,” said GTI Founder and Chief Executive Officer Ben Kovler.
Green Thumb Industries (GTI) (CSE:GTII) (GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced it will open its 39th location, Rise Lakewood, on December 31. This is the fourth Rise™ store in Ohio, Lakewood’s first cannabis retail store, and the fifth store GTI will open in December. “We are thrilled to open the first of our two retail locations in Lakewood and to help more Ohioans improve well-being through cannabis, while creating jobs at our stores and manufacturing facility,” said GTI Founder and Chief Executive Officer Ben Kovler.
(Bloomberg) -- A gloomy year for pot stocks is ending on a dismal note, with the industry’s first exchange-traded fund falling to a record low on Monday.The Horizons Marijuana Life Sciences ETF slid as much as 4.8% to C$8.20, the lowest since it was launched in April 2017. The fund, known by its ticker HMMJ, has lost 43% this year and is down 65% since its recent high on March 19.Monday’s drop came amid broader weakness in global markets but also illustrates the widespread pessimism that plagued cannabis for most of 2019.The sector began the year in a buoyant mood after Canada legalized recreational marijuana in October 2018. However, it soon became apparent the industry would underpreform forecasts. Companies spent most of the year coming to terms with lower-than-expected sales, ongoing losses, regulatory issues, a vaping-related health crisis and a slow Canadian retail rollout.Last week’s news that Aurora Cannabis Inc.’s chief corporate officer Cam Battley has stepped down and that Hexo Corp. will offer 15 million shares at a 14% discount only served to deepen that pessimism.HMMJ only holds Canadian cannabis growers, which have underperformed their U.S. counterparts more recently as legalization spreads at the state level and federal initiatives seek to loosen restrictions. Chicago-based Green Thumb Industries Inc., for example, gained as much as 6.5 % Monday ahead of Illinois’ Jan. 1 legalization of recreational pot. The company expects to have five stores open for the first day of sales, it said last week.To contact the reporter on this story: Kristine Owram in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Green Thumb Industries Inc. (GTI) (CSE:GTII) (GTBIF), a leading national cannabis consumer packaged goods company and retailer, today announced that it expects its Illinois cannabis stores Rise Mundelein, Rise Canton, Rise Quincy, Rise Joliet and 3C Joliet will be open for adult use cannabis sales on January 1, the first day it is legal to purchase cannabis in the state of Illinois for all consumers aged 21 and above.
YOLO debuted in April as the second cannabis ETF in the U.S. and the first actively managed fund in the space. As an actively managed ETF, YOLO has the advantage of being able to avoid some of the cannabis industries most downtrodden equities, including beleaguered Canadian names. “During the month a November, we saw a real divergence between some U.S. operators and the overall cannabis investment market (largely dominated by Canadian companies),” said YOLO portfolio manager Dan Ahrens said in a recent note.
Green Thumb Industries (GTI) (CSE:GTII) (GTBIF), a leading national cannabis consumer packaged goods company and retailer, today announced it will open BluePoint Wellness – Westport, Connecticut’s first cannabis store – on December 23. This is GTI’s second store in Connecticut and 38th in the nation.
Green Thumb Industries Inc. (GTI) (CSE:GTII) (GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, will open Rise Paterson, its first store in New Jersey, on Saturday, December 21. GTI also operates a cultivation and processing facility in Paterson, which this month received its permit to begin growing cannabis, and is the first cannabis company to become operational in the state among the 2018 license award winners. Rise Paterson will welcome the community to an open house and ribbon cutting on December 20 from 10 a.m. to 12 p.m. to tour the store, meet the Rise™ team and find out more about New Jersey’s medical marijuana program.
Green Thumb Industries Inc. (GTI) (CSE:GTII) (GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced it will open Rise New Castle, its ninth retail location in Pennsylvania and 36th in the nation, on December 17. “We are honored to open our ninth Rise store in Pennsylvania and to be the first medical cannabis retailer in New Castle,” said GTI Founder and Chief Executive Officer Ben Kovler. GTI entered the Pennsylvania market in 2017 and operates a manufacturing facility in Danville where the company produces branded products, including its flagship Rythm brand.
Green Thumb Industries Inc. (GTI) (CSE:GTII) (GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced it will open Rise West Palm Beach, its sixth retail location in Florida and 35th in the nation, on December 11. “We are thrilled to open our sixth Rise location in Florida and 16th store this year as we continue our expansion throughout the state and country,” said GTI Founder and Chief Executive Officer Ben Kovler. Rise™ currently has locations in Bonita Springs, Deerfield Beach, Hallandale Beach, Oviedo and Pinellas Park.
The major benefit to U.S. cannabis stocks are the big catalysts ahead for the related companies due to legal changes providing more access to markets. Outside of eventual federal approval, the companies can benefit greatly from the legalization of cannabis sales at the state levels whether for medical or recreational purposes.In the span of a month, both Michigan and Illinois will start allowing recreational cannabis sales. The Michigan market started this month and is expected to add $600 million in annual revenues while the Illinois market starts January 1 and has the potential of reaching $4 billion in annual sales and building on an existing $250 million medical cannabis market.For 2020, analysts have forecasted U.S. cannabis sales topping $16 billion while the total global sales may not even reach $20 billion following the weak recreational sales in Canada. The Illinois market alone has the potential of matching the current global market highlighting the massive opportunity for U.S. MSOs.In addition, Illinois gave a huge advantage to existing medical cannabis companies with the ability to license existing stores plus add an additional store for recreational sales starting January 1. MSOs not in the market already were locked out to this market opportunity with 13 million residents and 117 million tourists annually.We’ve delved into three U.S. cannabis companies with a strong market position in Illinois that will benefit from the opening up of the adult-use market in under a month. These stocks also fit a double whammy of 1) a bullish outlook from the Street and 2) serious upside potential. That’s vital when it comes to raking in the profits.We used TipRanks’ Stock Screener tool to find these stocks. We set the following filters: a “strong buy” consensus rating and upside potential of more than 20% from the current share price to the average analyst price target. Then it’s just a question of sitting back and letting the screener work its magic. Let's take a closer look:Curaleaf (CURLF)Curaleaf reported Q3 pro-forma revenues of $129 million. For those paying attention, the U.S. MSO now has far more than double the revenues of the large Canadian cannabis LPs.The important part to the story with Curaleaf is the planned acquisition of Grassroots with prime operations in Illinois. The deal is expected to close during Q1 shortly after the state opens up for recreational cannabis use. A prime driver of 2020 revenue estimates in a range of $1.0 billion and $1.2 billion and analyst goals for $1.6 billion in revenues by 2021 is the growth opportunity in Illinois.Curaleaf has 51 existing dispensaries and access to 131 locations with the acquisition of Grassroots. Grassroots has four stores open in the state that were serving the medical cannabis market and the company is allowed to open four more stores including two in the key city of Chicago. A total of 8 stores in the big Illinois market is a huge positive for the stock.That said, the benefits of the Illinois market and general growth are still highly reliant on the closing of the Grassroots deal providing the stores in Illinois. In addition, the Select brand acquisition to build on market share in the California market is still awaiting final close in January. Until these deals close, the market is very hesitant on the stock.Curaleaf has a fully diluted market value of $2.8 billion based on 464 million shares outstanding. The deals push the diluted share count to 668 million shares including the 41 million contingent shares for Select. The stock has the potential for a total market value approaching $4.0 billion or only 2.5x 2021 sales estiamtes.Overall, the U.S. MSO stock remains a Wall Street darling, as TipRanks analytics showcasing Curaleaf as a Strong Buy. With an average price target of $11.62, analysts are predicting massive upside potential of 93% for the stock. In total, Curaleaf stock has received 7 'buy' ratings vs. just 1 'hold' in the last three months. (See Curaleaf's price targets and analyst ratings on TipRanks)Green Thumb Industries (GTBIF)Another U.S. cannabis player with a big impact from Illinois is Green Thumb Industries. The MSO located in Illinois has a listed market value of $1.7 billion and originally sold medical cannabis in the state starting back in 2015.GTI expects to have three adult-use stores open by January 1 with the remaining stores scheduled to open shortly after the market opens next year. The company has five existing medical cannabis stores with the ability to turn those into a total of 10 stores selling recreational cannabis.As a whole, the company has 34 retail stores open with a goal to reach up to 40 stores this year. GTI has licenses to build 96 dispensaries in the next couple of years.As mentioned, the stock has a market value of $1.7 billion with revenues estimates set to double to over $475 million next year. The stock trades at a similar multiple of ~2.5x 2021 sales estimates and the stock doesn’t have the same risk of closing pending deals in order to access this key Illinois market.Wall Street’s analysts have been nothing but bullish on GTI over the past three months. Out of 6 analysts tracked by TipRanks, all 6 are bullish on the stock. With a return potential of about 120%, the stock's consensus target price stands tall at $18.77. (Discover how the overall stock-price forecast for Green Thumb breaks down here)Cresco Labs (CRLBF)Cresco Labs is the proclaimed leader in the Illinois market with three cultivation licenses in comparison to the two licenses listed by GTI. The company has access to 630,000 square feet of product capacity or 50% more than GTI and 200% above other existing competitors in the key market. Cresco Labs has the ability to supply the other retail dispensaries unlike most competitors.The company has five medical cannabis dispensary licenses with the access to open five more stores with the approval of recreational use on January 1. In total, Cresco Labs obtains over 65% of current revenues from wholesale sales so the company isn’t as focused on pure store openings as most other companies in the industry.Similar to Curaleaf, Cresco Labs has pending acquisitions that will impact operations. The company expects to close the Origin House deal soon and recently canceled the VidaCann deal to conserve cash as the market pressures companies needing funding. The stock only has a market cap of $590 million providing a bigger bargain in the sector.With the existing mergers closing, Cresco Labs will have a market cap of around $1 billion so the company has the biggest impact from the start-up of recreational cannabis sales in Illinois. Despite this huge benefit, the stock trades near the yearly lows.With only bullish calls issued in the last three months, the word on the Street is that Cresco is a ‘Strong Buy.’ Adding to the good news, its $12.61 average price target indicates the highest upside potential on our list, 127.62% to be exact. (Find out how the Street’s average price target for Cresco Labs breaks down)To find good ideas for cannabis stocks trading at fair value or better, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Is the cannabis sector about to light up? Following the U.S. House Judiciary Committee's monumental decision to approve the Marijuana Opportunity Reinvestment and Expungement (MORE) Act on Nov. 20, investor focus has locked in on this area of the market.With the passage of this legislation, the cannabis industry takes a huge leap forward as the bill would remove marijuana from the Schedule I list of controlled substances as well as decriminalize it at the federal level. However, the bill wouldn't legalize the substance."Today's vote marks a turning point for federal cannabis policy, and is truly a sign that prohibition's days are numbered," executive director of the National Cannabis Industry Association Aaron Smith stated.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAs 65% of Americans support the legalization of marijuana, according to a CBS News polling conducted in April, is now the time to snap up marijuana stocks? Wall Street seems to be advocating that investors do just that.Analysts remind investors to focus on the names poised to soar through 2020. The most compelling investments can be the names making moves behind the scenes. * 7 Exciting Biotech Stocks to Buy Now Using TipRanks' Stock Screener, I was able to pinpoint five marijuana stocks that have been flying under the radar. While largely avoiding the spotlight, these names boast upside potential that demands attention. I'm talking in the triple digits.Let's dive right in. OrganiGram (OGI) Source: Shutterstock OrganiGram (NASDAQ:OGI) is feeling the heat following its fiscal fourth-quarter earnings release.During the quarter, the company posted a bottom-line miss. The net loss came in at 22.5 million CAD. The consensus estimate had pointed to a loss of only 1 cent per share. This news was even more concerning as it followed up a profit of 18.2 million CAD, or 12 cents per share, in the year-ago quarter. Management noted that an insufficient retail network as well as slower-than-expected store openings in Ontario were partly to blame for the disappointing performance.That being said, OGI still has a lot going for it. The cannabis name operates out of a single facility located in New Brunswick, making it more efficient than some of its peers. Rather than opening giant new facilities, it has placed a significant focus on producing higher-quality cannabis. Not to mention the company has received licensing approval for 17 new growing rooms, which should bring annual production capacity to 76,000 kilograms.Paradigm analyst Corey Hammill believes that this puts the company in a position to gain. OGI also stands to benefit from Cannabis 2.0, the legalization of cannabis derivative products in Canada. To this end, he reiterated his "buy" rating and $3.95 price target.Looking at the consensus breakdown, six buys and three holds add up to a "moderate buy." Its $6 average price target is the real star of the show here, though, indicating upside potential of 136%.See the OGI stock analysis. Harvest Health & Recreation (HRVSF) Source: Shutterstock "Not ideal" is the phrase being tossed around when describing Harvest Health & Recreation's (OTCMKTS:HRVSF) performance in its most recent quarter. The Arizona-based marijuana name announced its financial results for the third quarter on Nov. 20. The company reported that total revenue reached $33.2 million, up a whopping 197% from the prior-year quarter. However, adjusted EBITDA came in at a loss of $11 million, with both this figure and revenue falling below estimates.Nonetheless, Beacon's Russell Stanley reminds investors that there were positive takeaways. "We attribute the selling pressure on the stock to uncertainty with respect to Harvest's balance sheet and access to capital, and based on management's comments during this morning's conference call, we believe the company's asset base can support the additional debt required to accelerate growth," he explained.On top of this, Stanley argues that HRVSF is trading at a discount compared to other players. And several upcoming catalysts could catapult shares higher. While keeping the bullish call, he did reduce the price target to $11.29. Even at this lower target, the analyst thinks shares could skyrocket 341% in the next 12 months.It has been somewhat quiet on the Street in terms of other analyst coverage. Its "moderate buy" consensus rating is generated from the two "buys" assigned in the last three months. In addition, the $11 average price target puts the upside potential just under Stanley's forecast at 335%.See the HRVSF stock analysis. Cresco Labs (CRLBF)Source: Shutterstock Cresco Labs (OTCMKTS:CRLBF) is best known for being one of the largest vertically integrated, multi-state cannabis operators in the U.S. Its brands include Cresco, Reserve, Remedi, Mindy's and WellBeings. As one analyst is expecting big things from the company in 2020, CRLBF might not be able to keep a low profile for much longer.On the heels of its latest earnings report, shares slipped when investors learned that CRLBF missed the mark when it came to revenue. It doesn't help that the company posted a net loss of $8.6 million in the third quarter, while reporting net income of $1.2 million in the prior-year quarter.However, Cowen's Vivien Azer still sees a strong long-term growth narrative as the company stands to benefit from its recently received Chicago licenses, ahead of full adult-use legalization in Illinois. "We expect that 2020 will be a transformative year," she said. Bearing this in mind, the five-star analyst decided to stay with the bulls. In addition to the recommendation, her $9.79 price target brings the potential 12-month gain to 77%.Meanwhile, Beacon analyst Russel Stanley highlights its possible acquisition of Tryke as an area to watch. Back in October, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 lapsed, meaning that the acquisition is one step closer to being completed. "We view the development as positive, while also noting that the absence of a second request for information indicates that the DOJ's scrutiny of cannabis M&A may be moderating," Stanley wrote in a note to clients.Similarly, other analysts are optimistic when it comes to CRLBF. With five "buy" ratings issued in the last three months, the consensus is unanimous. The marijuana stock is a "strong buy." Not to mention, the $13 average price target suggests shares could soar 136% in the coming 12 months.See the CRLBF stock analysis. Sundial Growers (SNDL) Source: Shutterstock Sundial Growers (NASDAQ:SNDL) operates facilities throughout Canada and Europe. SNDL expects to hit a worldwide capacity of 95 million grams by the end of 2020.In its most recent quarter, the company was able to deliver net revenue of $33.5 million, a 74% gain on a sequential quarterly basis. On top of this, the amount of cannabis sold increased by about 70% from the second quarter of 2019. Still, its expansion efforts weighed on profits. As a result of its acquisition of United Kingdom-based agricultural indoor producer Bridge Farm in July, SNDL recorded a $97.5 million net loss.Cowen analyst Vivien Azer tells clients that while she is updating her estimates, her bullish thesis remains very much intact. "We continue to favor SNDL given its pricing architecture, modular production grow and CPG-like category management," she noted. To this end, Azer lowered the price target from $15 to $10. Despite cutting the target, she still sees 313% upside potential in store. * 7 Entertainment Stocks to Buy to Escape Holiday Blues When it comes to SNDL, the rest of the Street's take is a mixed bag. Split right down the middle, the consensus is a "moderate buy." While not quite as lofty as Azer's forecast, the $6 average price target indicates huge upside of 126%.See the SNDL stock analysis. Green Thumb Industries (GTBIF)Source: Shutterstock Unlike the other cannabis companies on our list, Green Thumb Industries (OTCMKTS:GTBIF) impressed investors with its most recent quarterly performance.Jumping 296% year-over-year, revenue for its third quarter landed at $68 million. While the company didn't see a profit, it has definitely been making progress. Net loss dropped from $22.2 million in its second quarter to $17.1 million. Adding to the good news, total operating expenses as a percentage of revenue dropped from 72.6% in Q2 to 54% in Q3.The solid performance was driven in part by its Integral Associates acquisition, as it expanded its reach in Nevada and California. Another key factor was that comparable sales for stores open at least 12 months were over 50% more than in the prior-year quarter.All of this has left Cowen's Vivien Azer very excited about GTBIF's future. As such, the five-star analyst maintained her "outperform" rating and $17.50 price target. This implies that shares could rise 88% over the next 12 months.Like Azer, Wall Street likes what it's seeing. Out of the six analysts that have published calls in the last three months, 100% were bullish. Additionally, its $19 average price target lends itself to 102% upside potential.See the GTBIF stock analysis.TipRanks offers investors the latest insight into eight different sectors by tracking the activity of over 5,000 Wall Street analysts. As of this writing, Maya Sasson did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Exciting Biotech Stocks to Buy Now * 10 of the Best Stocks to Buy Right Now From the JUST 100 List * 4 Marijuana Stocks to Own If the U.S. Legalizes Pot The post 5 Under-the-Radar Marijuana Stocks With Over 100% Upside appeared first on InvestorPlace.
CHICAGO and VANCOUVER, British Columbia, Dec. 03, 2019 -- Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods.
Cannabis stocks rallied across the board Thursday, as investors returned to the beaten-down-sector with a fresh enthusiasm, following a historic House vote in favor of a bill that would lift the federal ban on weed.
Green Thumb Industries Inc. (GTI) (CSE:GTII) (GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ and Essence retail stores, today announced it will open Rise King of Prussia, its eighth retail location in Pennsylvania and 34th in the nation, on November 26. Rise King of Prussia will host an open house for the community on November 23 from 1 p.m. to 4 p.m. The open house will be held before cannabis products are on site so all are welcome to attend and meet the Rise™ team, including the General Manager and Pennsylvania Market President. “We are honored to open our eighth Rise store in Pennsylvania and to expand our footprint to Montgomery County,” said GTI Founder and Chief Executive Officer Ben Kovler.
Cannabis producer Green Thumb Industries Inc. reported higher-than-expected revenue and a loss that was wider than what Wall Street modeled. The weed seller reported a third-quarter net loss of $17.1 million, which amounts to 8 cents a share, versus a net loss of $3.3 million, or 2 cents a share in the year-ago period. Revenue rose to $68 million from $17.2 million a year ago. Analysts polled by FactSet had estimated losses of 4 cents a share and revenue of $60.4 million. U.S. shares of GTI closed up 8.5% in Wednesday trading. GTI stock has gained 19.9% this year as the S&P 500 index rose 25%.
Recreational marijuana is now legal in Illinois. On the first day of legalization, sales topped $3.2 million. Green Thumb Industries, based in Chicago, was ready to serve customers. Yahoo Finance's Julie Hyman, Adam Shapiro, Scott Gamm and Akiko Fujita speak with GTI CEO Ben Kovler.