Green Thumb jumps as Q3 sales surge on growing cannabis demand

Green Thumb Industries

11/11/2021 15:49

** Shares of cannabis producer Green Thumb Industries Inc
 GTII.CD  rise 9.1% to C$29.72
    ** Co's Q3 revenue surges ~49% and narrowly beats estimates
- Refinitiv IBES data  urn:newsml:reuters.com:*:nL4N2S149K
    ** "American consumers are overwhelmingly choosing cannabis
for well being; people are demanding this product and we only
see that growing" - CEO Ben Kovler
    ** GTII profit more than doubles to $20.2 mln, or 8 cents
per share
    ** Retail revenue up 7.3% sequentially on high demand and as
co opened new stores 
    ** Kovler estimates the U.S. cannabis industry is currently
worth $24 billion in annual sales
    ** GTII down 4.8% so far this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))