FLGC Stock Increased 11.34%: Why It Happened

By Amit Chowdhry ● July 20, 2021
  • The stock price of Flora Growth Corp (NASDAQ: FLGC) increased 11.34% today. This is why it happened.

The stock price of Flora Growth Corp (NASDAQ: FLGC) – an all-outdoor cultivator and manufacturer of cannabis-derived products and brands – increased 11.34% today, going from a previous close from $2.91 to $3.24. Investors responded positively to Flora Growth announcing that its Flora Beauty division has formally launched Ô (“Awe”), its premium brand and product line designed and marketed by founding partner and global beauty influencer Paulina Vega. 

Flora Beauty’s Ô brand will cater to the prestige market and it is intended for consumers who value customized and personal experiences. And initially, sales are being conducted through the brand’s e-commerce platform with sales through brick-and-mortar stores expected by the fourth quarter of 2021. Ô is going to have moisturizing products for the face, cleansers, masks, and eye contour, and has currently launched with the following products:

— Anti-aging Moisturizing Cream (50mL & 100mL)

— Anti-aging repair Eye Cream (15mL & 30mL)

— pH Balanced Facial Cleanser (100mL)

— Exfoliating mask for a rejuvenated skin

There are a number of special and unique ingredients in each product with all of them containing naturally clean and full-spectrum CBD sourced from Colombia and fueled by antioxidant properties. And the brand prioritizes social responsibility and the environment through ingredient transparency in order to reduce the use of hurtful animal by-products and ecologically unsustainable inputs present in other brands throughout the industry.

Ô will be participating at the 18th annual Cosmoprof North America (CPNA) event on August 29-31, 2021 held at the Mandalay Bay Convention Center in Las Vegas, Nevada. 

KEY QUOTE:

“We’re excited to launch Ô and add a premium brand to our Flora Beauty portfolio as our team continues executing on building globally recognized and renowned beauty brands. The entire Flora Beauty portfolio incorporates present-day expectations of consumers by focusing on high-quality products with organic, natural ingredients. We’re very eager to delight consumers by introducing thoughtfully formulated products that elicit positive experiences and enable consumers to look better, feel better, and help them live holistically healthier lifestyles through mindful practices.”

— Luis Merchan, President and CEO of Flora Growth

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.