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Bill Miller bets on Green Thumb, expects up to 30% yearly growth - Business Insider


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SOURCE: http://www.businessinsider.com/bill-miller-cannabis-stock-pick-green-thumb-industries-growth-projection-2021-1
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Summary

Legendary investor Bill Miller is making a big bet that more states will soon choose to legalize marijuana, likening it to the early days of gambling.He's picked one cannabis company that he says will win in the nascent industry due to its growth prospects, management team, and strategy: Green Thumb Industries."We own one cannabis stock, Green Thumb, which unlike most of the companies has got a great strategy," Miller said last week at a value investor roundtable hosted by Ariel Investments and moderated by Ariel co-CEO and President Mellody Hobson. Green Thumb is listed on the Canadian Securities Exchange, though many expect the incoming Biden Administration to take action on loosening restrictions on US marijuana companies.Read more: Democrats' victories in Georgia will pave the way for federal cannabis reform and spur major investors to jump into the booming industryMiller said he likes Green Thumb Industries' strategy of investing in states with restrictive licensing regimes, like Illinois and Florida, and that he has a strong conviction in the cannabis retailer's management team, led by founder and CEO Ben Kovler.He said he sees the company "easily" growing 20% to 25% a year for the next 10 years, without acquisitions.

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