Flora Growth Corp Stock Price, News & Analysis

Flora Growth Corp. (NASDAQ: FLGC) has appointed Sammy Dorf, co-founder of Verano Holdings Corp., as Executive Chairman of its Board of Directors. This strategic move aims to accelerate Flora's entry into the THC-infused beverage market and expand global licensing initiatives.

Dorf brings significant cannabis industry experience, having helped build Verano into a major player with revenues exceeding $925 million. At Flora, he will focus on licensing, strategic partnerships, and operational scaling, particularly in European markets.

The company is positioning itself in the cannabis beverage space through its joint venture, Peak USA JV , established with Peak Processing Solutions. Peak has produced over 10 million cans of cannabis beverages and works with notable brands. According to Data Bridge Market Research, the U.S. infused beverages market is projected to reach half a billion dollars by 2030.

Flora Growth Corp. (NASDAQ: FLGC) reported sales of $600,000 during the Black Friday and Cyber Monday weekend through its JustCBD and Vessel brands. The company achieved year-over-year growth in both revenue and customer acquisition, attributing the success to strategic promotions, targeted marketing, and an efficient e-commerce platform. CEO Clifford Starke emphasized the company's brand strength and customer trust, expressing confidence in maintaining momentum through the holiday season.

Flora Growth Corp. (NASDAQ: FLGC) has announced plans to explore Bitcoin integration as a payment method across its business platforms. The company is preparing technological and operational frameworks to securely handle Bitcoin transactions and hold Bitcoin as currency.

CEO Clifford Starke emphasized that this initiative aims to provide customers and partners with more transaction options while attracting new customers. The company views Bitcoin acceptance as a complementary addition to its existing payment ecosystem, potentially expanding its reach in regions where cryptocurrency is widely adopted.

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.