Despite the broader weakness in the cannabis sector, TGOD stock has gained almost 10% so far in August. Here are some of the key developments this month for The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF).
Application to List on the Nasdaq
Over the course of the past year or so, cannabis company The Green Organic Dutchman has made plenty of interesting moves, and earlier this month, it made its most important move so far. Earlier this month the company submitted its application to be listed on the NASDAQ and that could prove to be an eventual game changer for the company if it is approved. The ticker sign is going to be TGOD if its application is approved.
However, the company added that it will continue to trade on the Toronto Stock Exchange. The NASDAQ exchange lists some of the world’s biggest corporations and listing there will give The Green Organic Dutchman access to a much bigger pool of investors.
Moreover, listing on an exchange like NASDAQ can also result in the flow of big money into something like TGOD stock. If the approval is granted, the company is going to play in the big leagues.
The company published its financial results for Q2 2019 earlier this month and managed to record a 20% growth in its revenues from the first quarter. That is a highly impressive performance for the company, and the Chief Executive Officer Brian Athaide stated that TGOD has got highly positive reviews with regards to its organic premium cannabis.
The company is also a powerhouse when it comes production capabilities, and The Green Organic Dutchman has projected that when operating at full tilt it could produce as much as 219,000 kilos a year. On the other hand, it has also signed important deals, one of the most important being the extraction services deal with Neptune Wellness Solutions (TSX:NEPT) (NASDAQ:NEPT).
TGOD is going to supply 230,000 kilos of hemp and cannabis to Neptune over the course of three years. The company is certainly moving in the right direction, and investors should watch out for TGOD stock.
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