The Green Organic Dutchman released its year-end financial reports on Tuesday, March 19th. Despite ending the year with a strong balance sheet, TGOD stock is in the red twenty-four hours later, down nearly 8%.
Here's what we know.
Green Organic Dutchman Year End Results and TGOD Stock
On Tuesday, The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF) posted its operational and financial results for the year ended December 31st, 2018. "2018 has been a pivotal year for the Company," said CEO Brian Athaide about the results. He added that "the accomplishments our team has made have been nothing shy of incredible."
Accomplishments and Highlights
There were several highlights in the report, such as the completion of the HemPoland acquisition on October 1st. The cannabis company also said it completed a $76.2 million bought deal financing. This deal had a price of $6.85 per unit.
TGOD also excelled in financing and construction, as noted in its year-end highlights. The company completed the largest Canadian cannabis Initial Public Offering (IPO) and raised total planned global output capacity to 219,000 kgs.
In terms of The Green Organic Dutchman's international presence, the company opened its first dispensary in Kingston, Jamaica.
But these results haven't done much for TGOD stock today. Nor have they for TGODF stock, which trades on the OTCQX Marketplace.
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1. TGOD Stock
According to Yahoo Finance, as of 12:02 PM, TGOD stock is trading at $5.07, putting it down 7.48%. On Monday, March 18th, TGOD stock was up 12.3%, trading as high as $5.14. It ended the day up 16.97% on the Toronto Stock Exchange.
2. TGODF Stock
As of 12:03 PM, TGODF stock is down 7.77%. Also on Monday, TGODF stock finished trading up 16.95%. The stock price was $3.82.
Takeaway
Before today, TGOD stock and TGODF stock have had a good trading week this week. Not to mention the Green Organic Dutchman financial results were overall positive, and the company plans to continue to market high-quality organic cannabis throughout 2019.
So, was today a one-off in terms of trading? Will the TGOD stock and TGODF stock be back in the green tomorrow? Let us know what you think in the comments below!
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Featured image: Canva
