Green Thumb Industries Inc. (CSE:GTII) (OTCQX:GTBIF) is making quite the splash in the US cannabis industry. The company was once deemed by the New York Times as the ‘Hermes‘ of the cannabis industry. In 2019, Green Thumb’s stock is up above 40% and is still climbing.
The company made yet another acquisition announcement this morning. Will Green Thumb’s momentum keep its shares rising? Let’s take a closer look!
Green Thumb Industries Expands Aesthetic
What makes Green Thumb Industries stand out from the rest of the cannabis companies is its aesthetic attention to detail. This morning Green Thumb announced it signed a definitive agreement to acquire the For Success Holding Company. For Success is the creator of the lifestyle suite of Boboe cannabis products.
Beboe products are known for their thoughtful design aesthetic. The brand’s most famous product is its iconic rose-gold vaporizer pen. Beboe products are currently sold in more than 125 retail locations in California and Colorado.
“We believe authentic brands distributed at scale is the key to winning in this industry and we’ve built the national infrastructure to produce and distribute high-quality products across the country,” said Green Thumb Industries Founder and CEO, Ben Kovler. “The meticulously crafted suite of Beboe products supports the premium segment within GTI’s brand portfolio and is firmly aligned with our long-term growth strategy.”
In addition to its announcement this morning, Green Thumb Industries released news that it entered into the Florida cannabis market last week. The company is setting itself up nicely in the US cannabis market in 2019 so far.
Green Thumb Industries Stock Movement
According to Yahoo Finance, GTII is currently trading at $15.68 a share, down -$0.02 (-0.13%). Year-to-date, the cannabis stock is up +39.55% on the CSE.
On the OTCQX, GTBIF is currently trading at $11.95 a share, down -$0.03 (-0.28%). Year-to-date, Green Thumb’s US stock is up 44%.
What do you think about Green Thumb acquiring For Success Holding Company? Will this help the company to grow even more?
Featured Image: Twitter