Is Green Thumb Industries Stock a Buy Now?
Green Thumb Industries (OTC: GTBIF) is one of the top multi-state marijuana operators in the country, generating over $1 billion in revenue over the trailing 12 months. But the company has more growth on the agenda, including locking up a deal with Circle K recently that could set it up for greater opportunities down the road.
Unfortunately, cannabis stocks remain unpopular buys as there hasn't been any real progress around legalization for them to rally around. Year to date, shares of Green Thumb are down more than 40%. Is this a bargain buy right now, or are you better off waiting for a better time to invest in the industry?
In October, Green Thumb announced that it would be launching 10 Rise Express dispensaries in Florida next year, near Circle K convenience stores. Green Thumb will be able to lease space from Circle K as well. CEO Ben Kovler called the agreement a "game-changer," and said it will be "easier and more efficient for patients to purchase high-quality cannabis as part of their everyday routine when stopping by their local convenience store."
Source Fool.com
