Many Canadian marijuana stocks are floundering, but it's a different story for U.S.-based pot stocks. Green Thumb Industries (OTC:GTBIF) serves as a great example, with its shares up more than 60% so far this year. In this Fool Live video, Healthcare and Cannabis Bureau Chief Corinne Cardina and longtime Motley Fool contributor Keith Speights talk about what makes Green Thumb a stock that investors should keep on their radar screens.
Corinne Cardina: Green Thumb Industries is the next one I want to talk about. This is a true multi-state operator. It's one of the largest ones, I think after Curaleaf.
It has two different dispensary chains. You will see many of these two chains in the 12 states that it operates. It does have its own cannabis brands as well. It owns the retailers. It's selling its own products. They are actually based in Illinois and luckily for Green Thumb, recreational marijuana became legal in that state this year.
So very right place, right time. What do you think about Green Thumb, Keith?
Keith Speights: Green Thumb is on fire these days and you are right on. A large part of it is that they operate in Illinois. Pennsylvania has been another good market for them, but they are actually in a dozen states, have opportunities to expand into others.
I think this goes back, Corrine, to what I was saying. Green Thumb is well-positioned to go after a lucrative US market, and the downside is they can't list their shares at this point on any major stock exchanges, but they're doing quite well. I don't think they are quite profitable, but they're making leaps and bounds toward that goal.
Revenue is soaring. And I think it's one of those stocks that investors certainly should keep on their radar screens because it has a lot of opportunities before it.
Corinne Cardina: Definitely. It will be interesting as it continues to make traction in that super new market.