Flora Growth Corp Stock Price, News & Analysis

Flora Growth Corp. (NASDAQ: FLGC) has launched the -edition Compass Rise Crimson, a new addition to their Compass Rise Series, specifically timed for the holiday season. The device features an all-metal casing with a red finish, high-capacity battery, preheat functionality, and precise low-voltage settings. The product's upright design maintains optimal oil positioning, demonstrating Vessel's commitment to craftsmanship. The -edition release will be available through Vessel's website and select retailers.

Flora Growth Corp. (NASDAQ: FLGC) has renewed sales orders with Mirfa s.r.o. for the Czech Republic and Slovakia markets, continuing a four-year partnership valued at approximately $500,000 annually. The company supplies JustCBD branded products, including gummies, tinctures, and oils through Just Brands UK's distribution network. The Czech CBD market reached $34 million in 2024, representing a significant growth opportunity in Europe's emerging cannabis markets. Mirfa specializes in CBD-infused products for humans and pets, focusing on sleep improvement, stress reduction, and pain relief solutions.

Flora Growth Corp. (NASDAQ: FLGC) has launched Element, a new glass and brass bubbler through its premium lifestyle brand, Vessel. The innovative water pipe, designed in California, features durable brass, anodized aluminum, and borosilicate glass construction. Element retails for $149 and can hold up to two grams of cannabis. The product includes superior aeration and percolation filters for enhanced user experience, comes apart into 6 pieces for easy cleaning, and includes a carry case.

Additionally, Vessel has introduced Hub and Apex, a carry case and charging dock for their Compass Rise 510 battery.

Flora Growth Corp. (NASDAQ: FLGC) is positioning itself as a first mover in Australia's changing regulatory landscape for vaping products. Through its subsidiary Australian Vaporizers (AV), which has sold $32 million worth of product since inception, the company is developing comprehensive solutions for pharmacies following new regulations that shift vaping device sales from retail to pharmacy environments.

AV has secured import permits, established pharmacy relationships, and is developing distribution channels including partnerships with cannabis warehouses. The company has launched Vessel Brand products in Australia, where approximately one million citizens (3.7% of the population) use medicinal cannabis treatments.

Flora Growth Corp. (NASDAQ: FLGC) acknowledges the significance of the 2018 Farm Bill, signed by President-Elect Trump, which decriminalized industrial hemp federally and catalyzed industry growth. The PR highlights the anticipated appointment of Robert Kennedy Jr. to lead the U.S. Department of Health and Human Services, noting his support for marijuana legalization and banking reforms. According to Whitney Economics, the hemp industry is currently valued at $28 billion, demonstrating significant economic impact through hemp-derived product sales and job creation.

Flora Growth Corp. (NASDAQ: FLGC) reported its Q3 2024 financial results, showing a net loss of $3.8 million compared to net income of $1.1 million in the comparable quarter. The company reported total operating expenses of $6.5 million and an Adjusted EBITDA loss of $2.4 million. Key business developments include new product launches through JustCBD, strategic partnerships with Canapuff and Nordic Tower for Vessel products distribution, and a supply agreement with Curaleaf for German market expansion. The company also launched THC-infused beverages and completed a specialized beverage facility. JustCBD maintained a 40% gross margin on sales of $4.2 million, while Vessel achieved a 55% gross margin on $1.1 million sales.

Flora Growth Corp. (NASDAQ: FLGC) congratulates President-Elect Donald Trump on his election victory and urges action on cannabis reform. Trump has expressed support for ending cannabis criminalization and reclassifying marijuana to Schedule 3. While Florida's Amendment 3 for recreational cannabis legalization fell short by 4% (requiring 60%), Nebraska approved legalization, while North and South Dakota voted against it. Flora's CEO Clifford Starke emphasized that cannabis stocks performed well during Trump's first presidency and called for nationwide legalization and SAFE banking implementation. The company views regulated medical framework as beneficial for maintaining market stability and product quality.

Flora Growth Corp. (NASDAQ: FLGC) has reaffirmed its medical cannabis supply agreement with Curaleaf Holdings' subsidiary Northern Green Canada. The new agreement, dated October 31, 2024, replaces a previous 2020 supply agreement and enables Flora to distribute Curaleaf's medicinal cannabis products in the German market. The agreement includes minimum purchase and supply obligations for both parties. Key terms specify that products must be used solely for medicinal purposes, and Flora cannot resell products for non-medical use without Northern Green's prior written consent. This is a transaction and not a broader commercial partnership.

Flora Growth Corp. (NASDAQ: FLGC) has announced its support for Germany's pioneering cannabis model city projects in Frankfurt and Hannover, set to launch in early 2025. These initiatives represent Germany's first controlled cannabis retail efforts, allowing both cities to gather data on consumption behaviors and public health impacts.

The projects will establish authorized sales locations for THC products, including cannabis flowers and hashish, available only to registered adult residents. Participants will undergo regular health assessments during the five-year study period. The initiative aims to combat illegal cannabis markets and inform future regulations across Europe.