Shares of Green Thumb Industries (OTC: GTBIF) (CNSX: GTII) are up 4.95% to $32.85 apiece as of 2:30 p.m. EDT. On Aug. 11, the company reported spectacular second-quarter results after markets closed. Revenue went up 85.4% year over year to $221.9 million. At the same time, it generated $22.1 million in net income, compared to a loss of $12.9 million in Q2 2020.
Right now, Green Thumb stock is pretty expensive -- at 8.2 times revenue and 88 times earnings. It needs to generate as much growth as possible to justify those multiples. Fortunately, the company has a good shot at sustaining its momentum in the future. Subsequent to the quarter, Green Thumb added two stores in Massachusetts, one in Virginia, another in Rhode Island, and one in Pennsylvania. Green Thumb now operates 62 dispensaries nationwide.
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Why Green Thumb Industries Is Rallying Today