Is This Profitable Pot Stock a Buy Before Q2 Earnings?

In 2020, Illinois-based multistate operator (MSO) Green Thumb Industries (OTC: GTBIF) rode the ongoing cannabis boom to a successful and profitable year. This company is rapidly emerging as one of the top contenders in the U.S. marijuana industry, and even amidst a pandemic, it was able to continue expanding.

After a rocking 2020, Green Thumb's market cap is nudging up against that of one of the biggest Canadian players, Canopy Growth -- which boasts an investment from U.S. beverage giant Constellation Brands shoring up its balance sheet. Green Thumb now holds a market cap of $7.1 billion to Canopy's $7.5 billion. Note that Green Thumb is also profitable, while Canopy is not. So far this year, Green Thumb's stock is up 32%, compared to Canopy's fall of 22%. Meanwhile, the industry benchmark, the Horizons Marijuana Life Sciences ETF, has gained 20% over the same period.

After establishing a strong footing in its home state, Green Thumb is looking to spread its roots in some hot new cannabis markets. It is set to report the earnings from its second quarter (ended June 30) tomorrow, Aug. 11. Here's why investors may want to consider getting in now.

Source Fool.com