Flora Growth Launches First THC-Infused Beverage In 4 Flavors, Provides Update On Hoshi Investment
Portfolio Pulse from Nina Zdinjak
Flora Growth Corp. (NASDAQ:FLGC) has launched its first THC-infused beverage, Melo, in collaboration with Peak. The company also provided an update on its investment in Hoshi International Inc., highlighting progress in facility construction and licensing in Portugal. Flora aims to expand its EU-GMP license and secure a long-term supply of medical cannabis.
October 24, 2024 | 1:36 pm
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Flora Growth launched its first THC-infused beverage, Melo, marking its entry into the beverage market. The company also updated on its investment in Hoshi International, showing progress in Portugal. FLGC shares traded 5.29% lower, indicating a negative market reaction.
The launch of Melo represents a strategic move into the beverage market, which could be positive long-term. However, the immediate market reaction was negative, with shares down 5.29%. The update on Hoshi shows progress, but the market may be reacting to short-term uncertainties or other factors.
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