Yes, I know you can’t double down on split aces, but Golden Leaf Holding Ltd.’s (GLH) latest announcement is good news for the little stock with big plans. Combined with the previous announcement earlier this month of a Reno license, GLH now has access to the two biggest resort markets in the state.
Las Vegas is of course the boss level in sin resorts. This is gonna be a YUGE opportunity for GLH. I’ll let the CEO, William Sampson, give you the numbers.
“Las Vegas is the tourist capital of the U.S., reporting a record 43 million tourists and its highest level of visitor spending on record in 2016. We plan to make our initial deliveries in the city of Las Vegas next week and are looking forward to introducing our portfolio of leading cannabis brands”
First Oregon, now Nevada. Oh Nevada, how I love thee. Sales of legal cannabis exceeded forecasts and jumped month over month by 24% in the first three months of legal sales. In August (the most recent data reported) recreational sales hit $33 Million. It’s raining soup kids, grab a bucket – GLH certainly has.
I’ve covered Golden Leaf before as has the site.. Coming into this site with fresh eyes, sometimes I can ask the noob questions. First off, why is the stock barely moving? Two pretty exciting announcements and the price of shares is just hovering there. Limp.
Yep, nothing gets the market excited like a steady line. I shall be indelicate. GLH did it’s binge in the first part of 2017, and a purge this summer. In July Mr. Sampson assured shareholders he was refocusing the company and charting the right course.
From my point of view, GLH is making good on it’s promise, taking its new products and brands and pouring them into new opportunities.
I’m not the only lone voice wandering in the woods either. As I was digging around deep into the interwebs this morning I stumbled on a few guys talking about the announcement on a stock message board,.
One guy said it was frustrating they couldn’t find GLH products on their local shelves in Vegas and were looking forward to seeing them. Everyone else was asking the same question I am. What does it take to make the market see the potential here?
With a $65M market cap, there are a lot of shares out there. And looking deeper every time there’s a blip, someone sells and the gains in share price vanish like Keyser Söze.
This kind of bottom feeding can’t go on forever, especially with the company’s aggressive expansion on the ground. Once profits from the Nevada market start rolling in, even the bloated cynics will stop selling and hang on. If you have the stones to wait, GLH looks real good to me right now.
(this piece was edited to remove an error I made about an acquisition – but I stand by my point.)
Full Disclosure: Golden Leaf is an Equity Guru marketing client and we own stock.