Several cannabis stocks are trading down today, including TGOD stock.
Interestingly, today’s result comes just two days after the cannabis company announced news that sent TGOD stock up nearly 10%. That, and it comes despite there being a certain level of optimism circulating The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF) at the moment.
Let’s dive into a quick recap.
TGOD Stock: The Latest and Greatest
On Thursday, April 25, TGOD stock moved into the red, trading at $4.26 as of 12:13 PM EDT. This means the cannabis stock is down 1.62% on the TSX.
While a handful of cannabis stocks are also in the red today, this move is noteworthy, considering earlier this week The Green Organic Dutchman announced Health Canada granted it an oil sales license. With this license, TGOD will be able to sell cannabis oil globally, an exciting new venture that allowed TGOD stock to jump around 7% the day of.
But the good fortune didn’t last long, with TGOD stock trading in the red Thursday. What makes today’s results even more interesting is that right now there is market optimism surrounding The Green Organic Dutchman.
Who’s Saying What
Some believe TGOD stock is one of three cannabis stocks destined for significant growth over the next ten years. With a vision to produce 170,000 kilograms of cannabis per year by 2021, individuals believe TGOD investors will be happy in the coming years if the cannabis company can execute this vision.
Then there are those who believe TGOD stock will benefit from the upcoming US FDA’s news. On May 31, 2019, the US FDA will hold a public hearing regarding the legalization of CBD in drinks and food.
We can’t forget the launch of the company’s Growers’ Circle Program either. Last month, the cannabis company disclosed that the sale of its cannabis flower had commenced. The Growers’ Circle, which is a group of medical patients, were given access to the product, and so far, feedback from the group has been positive.
Taking these factors into consideration, TGOD looks like it’s doing everything right. It’s receiving the right licenses, its products are well-received, and it has plans to grow over the next two years. But you wouldn’t guess that looking at how TGOD stock is trading today.
So, what happened? Let us know what you think in the comments below! Was Thursday a one-off?
Featured image: Canva