Goodness Growth Holdings (OTCMKTS:GDNSF) Stock In Focus After The Recent Fall

Physician-led, science-focused cannabis company and IP incubator, Goodness Growth Holdings (OTCMKTS:GDNSF) on August 13, 2021, announced the appointment of Josh Rosen to the Board of Directors, ensuring the total number of directors is seven.

Managing Partner at Bengal Capital and former CEO and Chairman of 4Front Ventures, Josh facilitated transforming a pioneering industry consulting firm. He also had private equity experience managing investment portfolios for huge family offices working in public markets as an equity analyst.

Chairman and Chief Executive Officer, Kyle Kingsley, MD, said that the induction of Josh Rosen, who has been a leader in the cannabis industry as well as strategic advisor, will help GDNSF in its transition from medical to adult use. Kyle added that Josh would infuse the team with valuable experience and has a long-standing track record as well as relationships.

Josh Rosen said that he looks forward to supporting the company in the next phase of growth as Bengal Capital continues to invest in the cannabis industry in the country.

GDNSF also confirmed financial results for quarter two ending June 30, 2021. The results witnessed revenues surging by 16.5% to $14.2 million over the previous year. The firm’s net loss for the quarter was $5.5 million, down from $16.1 million last year.

GDNSF said that besides former subsidiaries in Pennsylvania, the firm’s revenue surged by 44.5 % versus in quarter two.

Chairman and Chief Executive Officer, Kyle Kingsley, M.D, said that the second-quarter performance witnessed an increase in efficiency and scale enduring record gross margins. He added that expansion projects in New Mexico and Arizona will bolster revenue and profitability in quarter two of the year, especially the fourth quarter.