Goodness Growth: Forgotten New York License Holder

 

  • Goodness Growth was lost in the shuffle following a name change and new growth initiatives.
  • The MSO forecasts 2022 revenue of $140 to $180 million for a company exiting Q1 at a $53 million annual run rate.
  • The company owns one of the 10 licenses in New York.
  • The stock trades at only ~6x 2022 EBITDA targets, though a lot is unproven about that target.
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Vireo Health International changed their name to Goodness Growth Holdings (OTCQX:GDNSF) and the cannabis stock hasn't reacted very well to the new name. With the stock down to $1.70, the market valuation hardly exceeds the value of their license in New York. After this dip and the expanded focus of the business, my investment thesis is more bullish on the stock.

Read the full article on Seeking Alpha. 

Disclosure: No position mentioned. Please review the disclaimer position for more details. 


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