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Oct. 14, 2020, 8:51 a.m. EDT

Cannabis Stocks React on Recent Polling Data (US: GTBIF)(US: GRWG)(US: SGMD)(US: CRLBF)

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/zigman2/quotes/200716694/delayed GTBIF +4.12% /zigman2/quotes/207254713/composite GRWG +6.14% /zigman2/quotes/205890489/delayed SGMD 0.00% /zigman2/quotes/200392306/delayed CRLBF +3.68%

Oct 14, 2020 (OTC PR WIRE via COMTEX) -- The Cannabis space has heated up in the wake of the vice-presidential debate, wherein Senator Kamala Harris, Joe Biden's running mate, made crystal clear that the Biden administration, if it prevails, will pursue a course of marijuana decriminalization at the federal level.

"We will decriminalize marijuana and we will expunge the records of those who have been convicted of marijuana," the Democratic vice-presidential nominee said. "Times have changed -- marijuana should not be a crime. We need to start regulating marijuana and expunge marijuana convictions from the records of millions of Americans so they can get on with their lives. As marijuana becomes legal across the country, we must make sure everyone -- especially communities of color that have been disproportionately impacted by the war on drugs -- has a real opportunity to participate in this growing industry."

It should also be noted that, at this stage, no challenger to an incumbent in a presidential campaign has ever held such a commanding lead in the polls this near the election. Hence, market participants may begin to act very much like assets should price according to a Biden presidency from here forward, which could mean a powerful jump in interest for cannabis stocks as we close in on the results.

With that in mind, we take a look at some of the more active and interesting names in the space, including: Green Thumb Industries Inc. /zigman2/quotes/200716694/delayed GTBIF +4.12% , GrowGeneration Corp /zigman2/quotes/207254713/composite GRWG +6.14% , Sugarmade Inc. /zigman2/quotes/205890489/delayed SGMD 0.00% , and Cresco Labs Inc. /zigman2/quotes/200392306/delayed CRLBF +3.68% .

Green Thumb Industries Inc. /zigman2/quotes/200716694/delayed GTBIF +4.12% is a producer and distributor of cannabis products including flower, concentrates for dabbing and vaporizing, edibles, and topicals. The company markets its products through third party retailers. It also owns and operates a chain of 50 retail stores under the RISE dispensaries name.

The company is a national cannabis cultivator, processor and dispensary operator, is dedicated to providing dignified access to safe and effective cannabis nationwide while giving back to the communities in which they serve.

Green Thumb Industries Inc. /zigman2/quotes/200716694/delayed GTBIF +4.12% most recently announced the grand opening for adult-use cannabis sales at Rise Naperville (formerly 3C Compassionate Care Center) on October 8 which included a ribbon cutting ceremony with Naperville Mayor Steve Chirico. Profits from the first day of adult-use sales will benefit Loaves & Fishes, a local poverty-fighting and hunger relief nonprofit agency. Rise Naperville is the first store to offer adult-use cannabis sales in Naperville, the third most populous city in the state, and will remain the only store in the city to serve medical patients.

"We worked hard to offer adult-use cannabis sales in Naperville and are excited to meet new customers while continuing to serve our patients," said Green Thumb Founder and Chief Executive Officer Ben Kovler. "We have been proud members of the Naperville community since 2016 and will remain good neighbors, creating jobs and tax revenue and making a positive impact through our corporate responsibility programs."

And the stock has been acting well over recent days, up something like 19% in that time.

Green Thumb Industries Inc. /zigman2/quotes/200716694/delayed GTBIF +4.12% generated sales of $165.8M, according to information released in the company's most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 20.1% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($113M against $181.8M, respectively).

GrowGeneration Corp /zigman2/quotes/207254713/composite GRWG +6.14% is at the heart of the recent return of momentum in the cannabis stock space.

GRWG trumpets itself as a retail hydroponic and organic gardening play in the US market, with a clear ecommerce presence already in place. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers.

GrowGeneration Corp /zigman2/quotes/207254713/composite GRWG +6.14% just announced its acquisition of Hydroponics Depot, Phoenix's largest indoor and outdoor garden center. With the addition of Hydroponics Depot, GrowGen's portfolio of hydroponic garden centers now includes 29 stores across 11 states.

According to the release, GrowGen's entry into the Arizona market comes as voters consider Prop 207, which would legalize limited possession, cultivation and use of marijuana for adults ages 21 years or older. If approved, it is estimated that Arizona's cannabis market could grow from over $700 million market in 2020 into a $2 billion market, including both recreational and medical marijuana.

And the stock has been acting well over recent days, up something like 12% in that time. Shares of the stock have powered higher over the past month, rallying roughly 21% in that time on strong overall action.

GrowGeneration Corp /zigman2/quotes/207254713/composite GRWG +6.14% pulled in sales of $43.5M in its last reported quarterly financials, representing top line growth of 123%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($14.8M against $18.8M, respectively).

Sugarmade Inc. /zigman2/quotes/205890489/delayed SGMD 0.00% is an extremely interesting speculative prospect in the California cannabis marketplace, with a major interest in BudCars, one of the fastest growing vertically integrated cannabis delivery players in the space.

SGMD is a product and branding marketing company investing in operations and technologies with disruptive potential. Its Brand portfolio includes CarryOutsupplies.com, SugarRush(TM) and Budcars.com.

/zigman2/quotes/200716694/delayed
US : U.S.: OTC
$ 21.24
+0.84 +4.12%
Volume: 569,649
Nov. 27, 2020 12:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.58 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207254713/composite
US : U.S.: Nasdaq
$ 35.59
+2.06 +6.14%
Volume: 2.57M
Nov. 27, 2020 1:00p
P/E Ratio
598.15
Dividend Yield
N/A
Market Cap
$1.64 billion
Rev. per Employee
$433,335
loading...
/zigman2/quotes/205890489/delayed
US : U.S.: OTC
$ 0.0015
0.00 0.00%
Volume: 21.81M
Nov. 27, 2020 12:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.66 million
Rev. per Employee
$545,323
loading...
/zigman2/quotes/200392306/delayed
US : U.S.: OTC
$ 10.29
+0.37 +3.68%
Volume: 677,352
Nov. 27, 2020 12:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.44 billion
Rev. per Employee
$91,810
loading...
/zigman2/quotes/200716694/delayed
US : U.S.: OTC
$ 21.24
+0.84 +4.12%
Volume: 569,649
Nov. 27, 2020 12:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.58 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207254713/composite
US : U.S.: Nasdaq
$ 35.59
+2.06 +6.14%
Volume: 2.57M
Nov. 27, 2020 1:00p
P/E Ratio
598.15
Dividend Yield
N/A
Market Cap
$1.64 billion
Rev. per Employee
$433,335
loading...
/zigman2/quotes/205890489/delayed
US : U.S.: OTC
$ 0.0015
0.00 0.00%
Volume: 21.81M
Nov. 27, 2020 12:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.66 million
Rev. per Employee
$545,323
loading...
/zigman2/quotes/200392306/delayed
US : U.S.: OTC
$ 10.29
+0.37 +3.68%
Volume: 677,352
Nov. 27, 2020 12:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.44 billion
Rev. per Employee
$91,810
loading...
/zigman2/quotes/200716694/delayed
US : U.S.: OTC
$ 21.24
+0.84 +4.12%
Volume: 569,649
Nov. 27, 2020 12:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.58 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200716694/delayed
US : U.S.: OTC
$ 21.24
+0.84 +4.12%
Volume: 569,649
Nov. 27, 2020 12:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.58 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200716694/delayed
US : U.S.: OTC
$ 21.24
+0.84 +4.12%
Volume: 569,649
Nov. 27, 2020 12:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.58 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/207254713/composite
US : U.S.: Nasdaq
$ 35.59
+2.06 +6.14%
Volume: 2.57M
Nov. 27, 2020 1:00p
P/E Ratio
598.15
Dividend Yield
N/A
Market Cap
$1.64 billion
Rev. per Employee
$433,335
loading...
/zigman2/quotes/207254713/composite
US : U.S.: Nasdaq
$ 35.59
+2.06 +6.14%
Volume: 2.57M
Nov. 27, 2020 1:00p
P/E Ratio
598.15
Dividend Yield
N/A
Market Cap
$1.64 billion
Rev. per Employee
$433,335
loading...
/zigman2/quotes/207254713/composite
US : U.S.: Nasdaq
$ 35.59
+2.06 +6.14%
Volume: 2.57M
Nov. 27, 2020 1:00p
P/E Ratio
598.15
Dividend Yield
N/A
Market Cap
$1.64 billion
Rev. per Employee
$433,335
loading...
/zigman2/quotes/205890489/delayed
US : U.S.: OTC
$ 0.0015
0.00 0.00%
Volume: 21.81M
Nov. 27, 2020 12:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.66 million
Rev. per Employee
$545,323
loading...
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