Green Thumb Industries on Wednesday announced it has tapped into the key legal marijuana market of California with the launch of its first retail location in the southern part of the state.
Despite news of its expansion into the largest weed market, shares of the cannabis products company were down nearly 5% at their session lows in the afternoon.
The decline did not faze Ben Klover, the Chicago-based cannabis producer’s founder and chief executive, who said on CNBC it created an entry point for investors.
“This is a long-term game,” he said in a “Power Lunch” interview. “This stock price is just an opportunity for the buyers.”
With the opening of Essence in Pasadena, California, Green…