Feb 06, 2022 (WallStreetPR via Comtex) -- The U.S. cannabis industry is growing at an unparalleled pace. Sales for 2021 are estimated to finish at $31 billion, an increase of 41% over 2020. (4) And yet, despite this positive sales growth, cannabis stocks slumped in the second half of 2021. Think about it. Sales up, revenues up, growth flourishing - stock prices down? This screams opportunity and Flora Growth Corp /zigman2/quotes/225487779/composite FLGC +8.10% could be a perfect example. In fact, not one, but two Wall Street analysts believe Flora could be unreasonably undervalued.
Analysts believe that Flora Growth Corp. stock could be surprisingly undervalued with a 5x upside potential (1). FLGC is now producing High-T-H-C crude oil in their EU-GMP compliant Cosechemos facility, unlocking a major revenue opportunity in the $16.47 billion global medical cannabis market. (2)(3). FLGC's revenue projections for 2022 of $35-45M have ballooned higher compared to projections from 2021. Plus, the company has cushioned its cash balance by securing $34.5M in financing (4)(5).
FLGC is piling up major retail and distribution agreements:
- Walmart.com - Macy's
- Tonino - FLGC will distribute food products to Colombia-based Tropi (6)(7)(8)(9)
FLGC strengthened its U.S. presence by acquiring Vessel Brand Inc. an industry leader in cannabis consumer technology with a trailing 12-months revenue of $6.6M and year-over-year growth of 90% (10).
Source 1: https://www.tipranks.com/stocks/flgc/forecast
Source 2: https://tinyurl.com/3yzndbdc
Source 3: https://tinyurl.com/3cscums2
Source 4: https://www.yahoo.com/now/flora-growth-provides-2022-revenue-120500184.html
Source 7: https://bit.ly/3KXRugH
Source 8: https://tinyurl.com/ynu8u7t4
Source 9: https://tinyurl.com/yck2dn9r
Source 10: https://www.businesswire.com/news/home/20211115005577/en/Flora-Growth-Completes-Acquisition-of-Vessel-Brand-Inc .
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The post Cannabis Companies Could be Set to Flourish in 2022 (FLGC,HLF,HNST,NHTC) appeared first on Wall Street PR .
COMTEX_401903522/2770/2022-02-06T23:08:11
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