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Changing Legal Landscape for Cannabis in Colombia and the U.S. Portends a New Era of Productivity for Flora Growth Corp. (NASDAQ: FLGC)

October 17, 2022 9:10 AM EDT

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  • Colombia and the United States have both recently exhibited new openness to the possibility of decriminalizing adult recreational cannabis use through legislative change
  • Cannabis supplier Flora Growth cultivates its product at a key Colombian farm and provides it to international markets, and may see additional opportunities arise as cannabis policies advance in the two countries
  • Flora Growth recently announced completion of its first shipments of high-CBD dried cannabis flower to Switzerland and the Czech Republic, as well as CBD isolate supplied to its market in the United States
  • The company also recently reported a 604 percent YOY increase in revenues during the H1 reporting period, with a 547 percent gross profit increase during that period

Cannabis may be approaching a new watershed moment as Colombia pushes for national legalization of adult-use marijuana and the United States’ government undertakes long-anticipated discussion of whether to change the drug’s classification. 

The nearly unanimous approval of legislation to legalize and regulate adult-use cannabis by an initial committee reviewing bills in Colombia’s legislature, coupled with the president’s criticisms of decades-long prohibitionist policies and regulatory advances made by his predecessor, position the fertile…

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