GTBIF - Why Green Thumb Industries Was Soaring Today
Shares of U.S. cannabis multi-state operator (MSO) Green Thumb Industries (OTC: GTBIF) were soaring on Wednesday, up 9.7% as of noon ET, even as the broader indices posted declines.
Today's outperformance can likely be attributed to two things. Yesterday, Senator Cory Booker reiterated prior optimism that some form of cannabis legislation -- though not full legalization -- would get passed in the lame duck Congress following the midterm elections.
More specifically to Green Thumb, it announced an exciting new partnership with Circle K (part of Alimentation Couche-Tard ) convenience stores and gas stations across Florida today. Given the ubiquity of Circle K in Florida, it's no wonder the stock is soaring on the new partnership -- especially if this medical-only state eventually becomes adult use.
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Why Green Thumb Industries Was Soaring Today