In late October, an undisclosed institutional investor bought 5.5 million shares of Green Thumb Industries (CSE: GTI) (OTC: GTBIF) in a private transaction at C$19.25. The same buyer, according to a company spokesperson, has bought an additional 2.5 million shares at C$27.50, 43% higher, as disclosed in an early warning report. The sale was made by a group on early investors and insiders of the company in a private transaction.
The purchase was at a slight discount to the recent 52-week closing high and just beneath the all-time high of C$32.50 in late 2018.
The investment continues an accelerating trend of institutional equity and debt investment into the American cannabis industry.
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email