Flora Growth Corp Stock Price, News & Analysis

Flora Growth Corp. (NASDAQ: FLGC) has launched a new THC-infused Cola, expanding its beverage portfolio following the success of its first beverage, Melo. The product uses proprietary emulsion technology to infuse hemp while maintaining traditional cola taste. The company is targeting the U.S. Southeast market initially, with plans for national expansion through traditional retail channels, U.S. distributors, and liquor stores. Cloud Cola aims to capitalize on the growing demand for functional beverages and hemp-based products, building on Flora's success in the gummies market.

Flora Growth Corp. (NASDAQ: FLGC) has launched Melo, its first THC-infused beverage, entering the rapidly growing hemp beverage market. The product, developed through a joint venture with Peak, comes in four flavors and leverages Peak's emulsion technology. The U.S. hemp beverage market, valued at $220 million in 2023, is projected to exceed $1 billion by 2028, with a CAGR over 30%. Flora's distribution strategy includes traditional retail channels, liquor stores, and potential online sales across the United States. Recent data shows daily cannabis use (17.7 million users) now surpasses daily alcohol consumption (14.7 million users) in the U.S.

Flora Growth Corp reports progress on its Hoshi International investment in Portugal. Hoshi secured a new financial partner in 2023 who assumed capital expenditures for equity. Key developments include completion of a 1,200-square meter greenhouse with 1,500 kg/year capacity, obtaining GACP license, and receiving 70 cannabis clones. The facility employs 18 full-time staff with $20M invested to date. Flora's initial $2.4M investment secured 10% ownership in Hoshi, which controls 51% of the Portuguese operation. First commercial harvest is expected in 2025. Flora plans to explore EU-GMP license expansion from Germany through Hoshi collaboration for direct sales channel.

Flora Growth Corp. (NASDAQ: FLGC) has completed its specialized beverage facility, marking its entry into the $220 million beverage market. The facility incorporates Peak's proven technology, ensuring high-quality products and a competitive edge. With over 100 formulations, Flora aims to power major cannabis brands, replicating Peak's success in Canada, where it produces nearly 40% of cannabis beverages.

The THC-infused beverage market is rapidly growing, representing 2.1% of the Canadian adult-use cannabis market (CAD$134.4 million). In the U.S., beverages account for 1% to 3% of the cannabis market, with significant growth potential. Data Bridge Market Research projects the U.S. infused beverages market to reach half a billion by 2030, growing at a CAGR of 14.7%.

Flora's facility will produce beverages for its Melo brand and others, enabling strategic distribution agreements. The company's joint venture with Peak, formed in June 2024, combines Peak's production expertise with Flora's brand launching and marketing capabilities in the U.S.

Flora Growth Corp. (NASDAQ: FLGC) expresses optimism following Vice President Kamala Harris' campaign proposal to legalize recreational marijuana at the federal level. Harris aims to work with Congress to make cultivation, distribution, and possession of recreational cannabis legal across the United States. Currently, recreational marijuana is legal in 24 states and D.C., but remains illegal federally.

Former President Donald Trump has also voiced support for cannabis legalization, pledging to vote for a Florida measure legalizing recreational marijuana. Flora's CEO, Clifford Starke, sees this bi-partisan momentum towards federal cannabis legalization as historic. The company believes legalization would provide clarity for businesses and open doors for communities impacted by outdated cannabis laws.

Flora operates across several regulated markets globally, including the U.S., and is ready to support the development of a federal framework for safe, sustainable, and equitable industry growth.

Flora Growth Corp. (NASDAQ: FLGC) has appointed Dr. Manfred Ziegler as Managing Director to bolster its German business. Dr. Ziegler, a renowned figure in the pharmaceutical industry, brings decades of expertise, including his leadership as Managing Director of CC Pharma and his role in its sale to Tilray. His appointment is expected to accelerate Flora's ambition to become a leading cannabis company in Germany.

Dr. Ziegler's extensive experience includes transforming CC Pharma into one of Europe's leading pharmaceutical distributors. His strategic leadership and proven ability to drive growth in complex markets will be instrumental as Flora expands its operations in Germany and Europe's cannabis sector. In his new role, Dr. Ziegler will focus on international distribution strategies, regulatory compliance, and market expansion, with a key objective to spearhead the launch of Flora's parallel import business in Germany.

Flora Growth Corp. (NASDAQ: FLGC) welcomes Germany's new industrial hemp legislation, which liberalizes cultivation and creates new opportunities for the industry. The updated regulatory framework, introduced by Food and Agriculture Minister Cem Özdemir, removes the restrictive 'abuse clause' and streamlines the path for producers. Industrial hemp, containing less than 0.3% THC, has versatile applications from textiles to wellness products.

Flora, with its established presence in the hemp cannabinoid space, is well-positioned to enter the German market. The company plans to leverage its expertise in cannabinoid extraction and product development, offering a range of high-quality, low-THC hemp products under its JustCBD and Vessel brands. CEO Clifford Starke expressed excitement about the potential in the European hemp market and Flora's commitment to expanding its international footprint.

Flora Growth Corp. (NASDAQ: FLGC) has partnered with Flowzz.com to establish a dedicated e-commerce store on the Flowzz Webshop, one of Germany's popular online cannabis marketplaces. This collaboration will integrate Flora's product line, including cannabis strains, flowers, and Vessel products, into the Flowzz platform. Flora will have exclusivity for accessories, cannabis seeds, cuttings, and seedlings.

Flowzz will manage the creation, maintenance, and marketing of the Flora Flowzz page, while Flora handles order fulfillment. This partnership aims to expand Flora's reach in the German market, which recently legalized recreational cannabis on April 1, 2024. With an estimated 4.5 million cannabis users in Germany as of February 2024, this collaboration positions Flora to capitalize on the growing European cannabis market.

Flora Growth Corp. (NASDAQ: FLGC) has announced the addition of Love Hemp's product range to its e-commerce platforms. This partnership expands Flora's product offering by introducing Love Hemp's functional products, oil sprays, chocolate balls, and 10-pack gummies to its online customers. The Love Hemp product line will complement Flora's existing portfolio without competing with JustCBD's current offerings.

Love Hemp is known for its innovative formulations and dedication to high-quality wellness products. Key products to be featured include a functional range designed for specific wellness benefits, convenient CBD oil sprays, CBD-infused chocolate balls, and 10-pack gummies. Clifford Starke, Chairman and CEO of Flora Growth, expressed enthusiasm about introducing Love Hemp's diverse product range to their growing customer base, stating that it further solidifies their commitment to providing top-tier, forward products that meet evolving consumer needs.