Top 5 Marijuana Stocks to Invest In Right Now

4. Green Thumb Industries Inc. (OTC:GTBIF)

Stock Price as of April 22, 2022: $15.8

Green Thumb Industries Inc. (OTC:GTBIF) manufactures, distributes, and sells different cannabis products for medicinal and recreational use in the United States. It sells cannabis flowers as well as processed and packaged cannabis goods like pre-rolls, concentrates, vapes, tinctures, edibles, topicals, and other cannabis-related items.

Stone Fox Capital reported that with the arrival of legal cannabis in New Jersey this year and recreational cannabis in New York in 2023, Green Thumb Industries Inc. (OTC:GTBIF) should see a significant increase in sales and EBITDA. 

Stone Fox Capital also mentioned that the EBITDA will exceed $300 million in 2022 and $450 million in 2023. The stock is trading at less than 10x EBITDA estimates for this year and less than 7x EBITDA targets for 2023.

Following the release of the first-quarter data, Alliance Global Partners analyst Aaron Grey reduced the firm’s price objective on Green Thumb Industries Inc. (OTC:GTBIF) to C$38 from C$40 and maintained a ‘Buy’ rating on the stock. Grey reported that while margins may fall below management expectations due to price pressure, the firm should recover to targets as a result of additional adult-use states.