XS Financial Inc (OTCMKTS:XSHLF) Stock Jumps 13%: Here is Why

Specialty finance company XS Financial Inc (OTCMKTS:XSHLF) is involved in providing capital expenditure and equipment funding solutions to cannabis companies based out of the United States. The company was in the news on Thursday after it announced that it appointed a new Chief Financial Officer in the form of Justin Vuong.

Trading Data

On Thursday, XSHLF stock increased 12.50% to $0.0450 with 65.78K shares, compared to volume of 9.52K shares. The stock moved within a range of $0.0360 – 0.0450 after opening trade at $0.0362.

XS Financial Announces the Appointment of Justin Vuong as Its New Chief Financial Officer

He would replace Stephen Christoffersen in that role. However, it should be noted that Christoffersen would continue to a member of the company’s board of directors as well as its Investment Committee and would also stay on as the chair of the audit committee. It may now be a good move for investors to take a closer look at the credentials of Vuong in order to have a better idea about the appointment.

Vuong has been a part of the senior member of the XS Financial management since as far back as 2019 and had mainly been involved with corporate development, finance and accounting. He had worked closely with Christofferson and was regarded the automatic choice to replace him. Prior to being appointed to the new role, Vuong had been the Senior Vice President of Corporate Development at XS Financial.