10 Best Pot Stocks To Invest In According to Analysts

6. Green Thumb Industries (OTC:GTBIF)

Share Price (As of December 23): $7.03

Analyst Upside: 106.63%

Green Thumb Industries (OTC:GTBIF) is a US-based consumer packaged goods company that makes and sells cannabis products for both medical and recreational use. The company has seven different brands and operates in 15 states with 18 production facilities and 77 stores. The company’s product portfolio includes flowers, pre-rolled joints, concentrates, vapes, capsules, tinctures, and edibles.

Green Thumb Industries Inc. (OTC:GTBIF) manages the entire process from growing to selling. However, in well-established markets, the company relies on other cannabis producers to save on expansion costs. Green Thumb Industries is improving its profitability and holds a strong position to benefit from the cannabis market. A major factor driving Green Thumb’s growth is its agreement with Magnolia Bakery, a cupcake and dessert chain that now sells THC products made from hemp. Furthermore, the company is expanding its cannabis healthcare business through its retail chain, RISE Dispensaries. In November, RISE Dispensaries opened new locations, expanding the retail footprint in the US to 99 locations.

During the third quarter of 2024, Green Thumb Industries Inc. (OTC:GTBIF) posted yet another strong outcome with revenue up 4.2% year over year to $287 million, driven by solid demand for its cannabis products. The company achieved an adjusted EBITDA of $89 million during the quarter and ended the nine months with a free cash flow of $133.51 million, significantly improving its cash position compared to the past few years.