Why Green Thumb Industries Stock Shot Higher Today
The first trading session of the week was a gloomy one for the stock market, but apparently someone forgot to tell that to Green Thumb Industries (OTC: GTBIF). The cannabis company's stock inched up by 1% on Monday, in contrast to the nearly 2% slide of the S&P 500 index, thanks to the somewhat under-the-radar opening of a new market.
This week will be the first full week of legal recreational marijuana sales in Rhode Island. This isn't as impactful an event as in other U.S. locales, as Rhode Island is the smallest state in the U.S. by size and one of the most diminutive in terms of population.
It matters to Green Thumb, though, as the multi-state operator (MSO) has one of its Rise dispensaries there in the city of Warwick.
Source Fool.com
