HomeTrending StocksFlora Growth Corp. (FLGC) stock declines during premarket. Here’s what you should...

Flora Growth Corp. (FLGC) stock declines during premarket. Here’s what you should know?

Flora Growth Corp. (NASDAQ: FLGC) stock gained by 49.67% at last close whereas the FLGC stock price plunged by 18.36% in the pre-market trading session. Flora Growth Corp., which was founded in 2019, maintains a portfolio of worldwide consumer brands that are backed by low-cost, organic cannabis and cannabis derivatives. These are utilized in a variety of products such as cosmetics, medicines, hemp textiles, and food and drinks.

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What’s up with FLGC stock?

Flora Growth Corp is now the subject of an Equity Research Report from Argus Research which is an independent financial research organization.

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Flora Growth takes use of Colombia’s low-cost cannabis production to offer cannabis and its derivatives for a growing number of goods. Cosmetics, medicines, food & drinks, and hemp-based textiles are also included. FLGC’s outdoor farming business in Colombia, which is located along the equator at a height of 1500 meters above sea level, benefits from year-round organic growth thanks to good weather. Flora’s manufacturing costs, at less than $0.06 per gram, are substantially cheaper than those of its Colombian competitors.

Flora is constructing an extraction and manufacturing facility in Colombia to enhance its cultivation capabilities. It’s also starting up a wholesale cannabis distribution company and growing worldwide through acquisitions and mergers. Flora’s low-cost structure, excellent brand portfolio, and increasing worldwide distribution make us feel it is undervalued in comparison to peers.

More About FLGC Stock,

Flora Growth Corp. is thrilled to report that the President of Colombia has accepted and signed into effect the modifications to Colombia’s current cannabis legislation, following a thorough consultation process. The new legislation aims to improve Colombians’ access to cannabis goods while also positioning Colombia as the global cannabis market’s leading supplier.

Some main points are discussed below:

  • The selling and export of raw cannabis components, such as dried flower, to overseas markets is now permitted under Colombian legislation.
  • Colombian farmers are now in a strong position to supply the global cannabis market, with dried cannabis flower accounting for almost half of interest in major foreign markets such as the United States, Germany, and Australia.
  • New rules allow for the manufacture, sale, and export of ingestible cannabis products in Colombia, boosting Flora’s Kasa Wholefoods division’s income potential in the short future.
  • Flora takes advantage of the new regulation by negotiating a supply arrangement with a South African-based worldwide distributor to deliver raw and finished medicinal cannabis products.

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The update enables for the marketing and advertising of cannabis brands and products in Colombia, allowing more people to have access to the country’s burgeoning cannabis industry.

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