Where Will Green Thumb Industries Be in 3 Years?
Most of the major North American cannabis companies have underperformed the market's return of 34% over the past three years, but not Green Thumb Industries (OTC: GTBIF). Since late 2019, its shares are up by 58%, making its shareholders proud amid a sea of competitors that proved abysmal investments. Tilray Brands, for instance, lost nearly 79% of its value.
But can the U.S. multi-state operator (MSO) one-up the market and the rest of the marijuana industry's public businesses once again over the next three years? It's actually quite likely, and here's why.
Green Thumb's future looks very much like a continuation of the best elements of its recent past. Since 2020, its trailing-12-month revenue has burgeoned, rising by 350% to reach $974 million. To accomplish that feat, it scaled up its production facilities as well as its number of stores, focusing on state markets where cultivation and distribution licenses are scarce and tightly controlled, such as Massachusetts, Illinois, and New Jersey.
Source Fool.com
