Golden Leaf Holdings (GLH) is a company we’ve talked about before. A month ago a house-cleaning in the top job meant a new page was being turned.  Now 30 days later we can take a look at some of the moves and have a chat on whether or not the ship is headed in the right direction.

First off, shortly after Lukas’ piece was published GLH announcedit was restructuring its financing. This move will free up some capital and help keep the wolves from the door. Without any follow up its also a warning signal that the new management is flailing around trying to get breathing space.

Luckily, yesterday they announced two new cannabis licenses in Nevada, Washoe County and Henderson County.  This includes the city of Reno (hence the title). This company seems to be rebuilding internally, while still expanding. I like that, shows gumption.

Now to the cold water part. Look at this amateurish low-res stock graph.

So you see this, and you say – Steph you unreconstructed idiot, the stock has melted like ice in the Nevada sun.

First of all, ouch. Second of all you’re right. the stock looks scary – but do bear in mind as you throw darts at my picture that these new licenses were announced yesterday. The market hasn’t reacted yet, but you can.

I think it’s time to dip a toe back in this water – the new direction seems to be shaping up nicely, and my gut says the payoff here is another long term one, but with a very nice ROI.

Full Disclosure:  Golden Leaf is an Equity Guru marketing client and we own stock.

Written By:

Stephan Herman

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