24/7 Market News Snapshot 12 December, 2024 – Flora Growth Corp. Common Stock (NASDAQ:FLGC)
DENVER, Colo., 12 December, 2024 (247marketnews.com) – (NASDAQ:FLGC) are discussed in this article.
Flora Growth Corp. (NASDAQ:FLGC) has seen a noteworthy resurgence in its market activity, opening today at $1.81 and currently trading at $1.99, marking a significant increase of 15.03% from the previous close of $1.73. This upward shift in price is indicative of strong market interest, evidenced by a trading volume of 1.84 million shares. While this bullish momentum suggests positive growth potential, market watchers should stay alert to possible overextensions or corrections in the near term. Key support levels are noted around $1.81, with resistance anticipated near the $2.00 mark, making future trading volume and price action critical indicators of whether FLGC can maintain this upward trajectory.
Alongside the market performance, Flora Growth is gearing up to make strategic strides within the cannabis industry. The company plans to submit applications for participation in new cannabis pilot programs aimed at curbing illicit market activities while promoting health prevention initiatives. Spearheading this endeavor are Executive Chairman Sammy Dorf and Managing Director for Germany, Manfred Ziegler. Dorf, with a proven track record of securing over 40 licenses across various U.S. states, brings considerable expertise to the table, complemented by Ziegler’s established influence in the German cannabis sector.
CEO Clifford Starke emphasized the transformative potential of the German market for Flora, asserting that the company’s strengthened leadership under Dorf sets a robust foundation for significant contributions to these pilot programs. As Flora Growth prepares these applications, it aims to ensure responsible cannabis development and solidify its role in the expanding medical market, positioning itself as a leader in the evolving international cannabis landscape.