This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The S&P/TSX Cannabis Index gained 2.18 points to 137.82 Thursday, while the Canadian Securities Exchange Composite Index gained 2.12 points to 502.81. In the United States, Ben Kovler's Green Thumb Industries Inc. (GTII) gained 64 cents to $20.40 on 1.68 million shares after releasing its second quarter results for 2020. The U.S.-based cannabis producer reported second quarter revenue of $119-million (U.S.), up from first quarter revenue of $102-million (U.S.). The growth comes despite temporary Q2 COVID-19-related shutdowns in two of Green Thumb's main markets: Massachusetts and Nevada. Green Thumb said the growth was particularly strong in Pennsylvania and Illinois, the latter being Green Thumb's home state and where the company now has eight dispensaries.

Along with rising sales, the company was profitable, by at least some measures, in the second quarter. Green Thumb's EBITDA rose from $20.3-million (U.S.) in Q1 2020 to $28.3-million (U.S.) in Q2 2020. This translated almost directly into Green Thumb generating $33.2-million (U.S.) in cash flow from operations in the second quarter, up from $27-million (U.S.) in the first quarter.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS