Green Thumb Industries Inc. (CSE:GTII) (OTCQX:GTBIF) is up 12% this week after a few major announcements. In the last two weeks, the company has closed two acquisitions, one in Connecticut and the other in California.
Investors seem keen on the cannabis stock this week, as it has seen gains of 12% in the last five days. For the month, GTII is up nearly 30% and climbing.
Green Thumb Industries Movements
Ten days ago, the Chicago-based cannabis company announced that it closed the acquisition of Advcanced Grow Labs LLC (AGL). AGL is one of only four companies in the state of Connecticut that are licensed to grow and process cannabis. Advanced Grow has a 41,000 square foot facility in West Haven, Connecticut.
“We continue to execute on GTI’s expansion plans and are thrilled AGL is officially part of the GTI team,” said Green Thumb Industries' Founder and CEO Ben Kovler.
Currently, Connecticut has over 30,000 patients in its medical marijuana program. Green Thumb hopes to capitalize on this emerging market. The state also has over 1,000 physicians that are licensed to prescribe medical cannabis to patients.
Yesterday, Green Thumb Industries announced the closing of its For Success Holding company acquisition. For Success Holding is the Los-Angeles brand creator of the lifestyle brand Beboe. Beboe is luxury branded cannabis products. These luxury products are sold in over 125 different retail locations in Colorado and California. California even offers home delivery of these products in some locations.
Green Thumb Industries Stock Movement
According to Yahoo Finance, GTII is currently trading at $19.78 a share on the CSE. In the last five days, the marijuana stock is up 11.75% and for the month, GTII is up 27%.
On the OTCQX, GTBIF is trading at $15.05 a share, up +$0.10 (+0.69%). In the last five days, GTBIF is up 13% and for the month, the stock is up 30%.
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