Hi there,
Yes - myself and Dan are both long GDNP as we believe in the long-term prospects of the company. When we first took a position in the company, it was trading at pretty cheap valuations. Although the company has skyrocketed since, it is still decently valued. The company is trading at 10.41 times sales - which in of itself doesn't mean its cheap. In fact it looks expensive. Packaging companies tend to have lower multiples as they have lower margins. I don't expect this to change as in the plant-based packaging industry.
That being said, the company recently closed on a pretty big acquisition that will add ~17M in revenue to their top line. Add that to the ~$14M it generated over the past twelve months, and forward revenue run rate is at $31M and that is not including organic growth which has jump 50% this year. On a forward basis, that is a forward P/S ratio of 4.67 which is much more reasonable. I like it anywhere below a forward P/S of 5.
The long term thesis is pretty simple - as a country, we are moving away from single use plastics and there will be a big gap to fill. This is where those with proven technology to develop plant-based packaging that is fully biodegradable will do quite well. It is one of the main drivers behind the thesis behind GDNP. This will however, be a very volatile investment. It could falter and investors will want to ensure they stay on top of the company and is only for those with a higher risk tolerance. Case in point, it hit just over $1.30 in a few days it dropped below $0.90. These short term fluctuations are expected and we don't pay too much attention unless there was a fundamental change. We always invest with a long-term (3-5+YR) mindset.
Mat