Grounded People Apparel Announces Board Resignation

Grounded People Apparel, Inc. ( (TSE:SHOE) ) has shared an update.

Grounded People Apparel Inc. announced the immediate resignation of Mr. Patrick Morris from its Board of Directors. The company expressed gratitude for his contributions and wished him well in his future endeavors. This change in the board may impact the company’s strategic direction as it continues to focus on sustainable fashion and its charitable initiatives.

Spark’s Take on TSE:SHOE Stock

According to Spark, TipRanks’ AI Analyst, TSE:SHOE is a Neutral.

Grounded People Apparel, Inc. is currently facing several financial challenges, with strong revenue growth overshadowed by substantial operational losses and negative cash flows. The stock exhibits bearish technical indicators, suggesting ongoing downside risk. Valuation metrics further highlight its unattractiveness due to negative earnings and lack of dividends. The company’s reliance on equity and lack of debt provide some financial cushion, but significant improvements are needed in liquidity and profitability to enhance its stock attractiveness.

To see Spark’s full report on TSE:SHOE stock, click here.

More about Grounded People Apparel, Inc.

Grounded People Apparel Inc. is an innovative apparel company based in Vancouver, British Columbia, Canada. The company focuses on delivering high-quality, 100% PeTA-approved vegan products. It is primarily engaged in fair-trade, sustainable, and earth-conscious fashion. Grounded People’s initial products, launched in late 2021, include high-top and low-cut canvas sneakers made from sustainable materials and manufactured in a vegan facility in Brazil. The company also runs the L.A.C.E.S. campaign, which supports various charities through the sale of shoelaces.

Average Trading Volume: 7,416

Technical Sentiment Signal: Sell

See more data about SHOE stock on TipRanks’ Stock Analysis page.