Is it a Good Choice to Invest in Green Thumb Industries (GTBIF)?

Mindset Value Wellness, an investment management firm, published its third-quarter 2022 investor letter – a copy of which can be downloaded here. The Mindset Value Wellness Fund lost 5.2% in Q3 and is now down 53% year to date. The fund is up more in October than it lost in the third quarter, but is currently down 44% for the year. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, Mindset Value Wellness Fund mentioned Green Thumb Industries Inc. (NYSE:GTBIF) and explained its insights for the company. Founded in 2014, Green Thumb Industries Inc. (NYSE:GTBIF) is a Chicago, Illinois-based cannabis consumer packaged goods company and retailer with a $2.2 billion market capitalization. Green Thumb Industries Inc. (NYSE:GTBIF) delivered a -56.45% return since the beginning of the year, while its 12-month returns are down by -51.21%. The stock closed at $9.65 per share on December 12, 2022.

Here is what Mindset Value Wellness Fund has to say about Green Thumb Industries Inc. (NYSE:GTBIF) in its Q3 2022 investor letter:

Green Thumb (NYSE:GTBIF) is supposed to be the best of the Tier 1 cannabis companies, but are you really Tier 1 material if half your board suddenly resigns along with your general counsel? This follows two other directors who resigned earlier this year. The company has seen five directors in total resign from its board this year. Green Thumb only has six directors! Other Tier 1s have had accounting problems, a revolving door of auditors, and questionable capital allocation decisions.”

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Our calculations show that Green Thumb Industries Inc. (NYSE:GTBIF) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Green Thumb Industries Inc. (NYSE:GTBIF) delivered a -16.09% return in the past 3 months.

In (date of publication), we also shared another hedge fund’s views on Green Thumb Industries Inc. (NYSE:GTBIF) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

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Disclosure: None. This article is originally published at Insider Monkey.