TGOD stock made its way into the green Wednesday. Why? Well, the increase came after The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF) announced it would open a second legal cannabis store in Jamaica.
Here's what we know.
TGOD Stock Benefiting from Second Legal Cannabis Store
On Wednesday, May 1, The Green Organic Dutchman said that on May 4, it will open a second legal cannabis store in Jamaica. It's important to note the store will open in conjunction with Epican Medicinals. The store is located on Montego Bay's "Hip Strip," which is a popular tourist destination. Montego Bay is also Jamaica's second largest city.
The flagship location will open on May 4, 2019. It is the second Epican cannabis dispensary to open in Jamaica, with the first opening in June of last year.
"We are proud of what the team in Jamaica has accomplished," said Brian Athaide, CEO of The Green Organic Dutchman. "Epican's Montego Bay store is a bright and well-designed space ideally located to serve local and visiting patients."
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Members of The Green Organic Dutchman are not the only ones optimistic about the news, a fact that likely played a role in TGOD stock trading in the green today. Speaking on the news, Karibe McKenzie, CEO of Epican Medicinals, said: "Today is yet another celebration for Epican and TGOD."
Both companies recognize the opening of the second legal cannabis store to be an "important milestone toward further expansion." And it seems the market agrees.
As of 2:29 PM EDT, TGOD stock is trading at $4.54 on the TSX, which puts the cannabis stock up 1.33%. Meanwhile, on the OTC market, TGODF stock is up 0.90%.
Takeaway
What do you think about TGOD opening up a second cannabis store in Jamaica? Do you think this will help the company continue to expand internationally? Let us know what you think in the comments below!
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