Green Thumb Industries (CSE:GTII) (OTCQX:GTBIF) is trending on the CSE today after releasing big news. The cannabis stock has seen significant share gains so far in 2019, and its stock just keeps climbing. Today, GTII remains one of the top cannabis stocks trading on the CSE for its amount of trades.
Today, we'll take a closer look at Green Thumb Industries' latest announcement and its stock's recent movements.
Green Thumb Industries Expands into Connecticut
Just this morning, Green Thumb announced the closing of its acquisition of Advanced Grow Labs LLC (AGL). The company previously announced its movement on January 7th, but the deal is now officially closed. AGL is one of only four companies that has a license to grow and process marijuana. Currently, the cannabis company operates a 41,000 sq. ft. cannabis manufacturing facility.
Green Thumb Industries' latest acquisition puts itself in a really great position in an emerging cannabis market in Connecticut. Currently, the state has more than 30,000 patients registered for medical marijuana. In addition to a copious amount of patients, there are over 1,000 registered physicians that can write prescriptions for medical marijuana.
“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. “AGL is a highly successful company in a limited license state with an excellent leadership team that will continue to be at the helm of this business. We are now solidly positioned in the tri-state area with this entry into Connecticut.”
Green Thumb Industries Stock Movement
According to Yahoo Finance, GTII is currently trading at $19.10 a share, up +$0.99 (+5.47%). Year-to-date, the stock is up 70.5% on the CSE.
On the OTCQX, GTBIF is currently trading at $14.35 a share, up +$0.66 (+4.82%). Year-to-date, the cannabis stock is up 73%.
The Chicago-based cannabis company is making its presence known in 2019 so far. Will the spotlight continue?
Featured Image: Green Thumb