TGOD stock is up +4% after The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF) announces the approval of its second organic certification. TGOD has seen a +15% increase in its stock the past thirty days after a number of company announcements. Will this announcement continue to push the stock higher?
TGOD Stock Up +15%
The Green Organic Dutchman had a few announcements the past thirty days that are likely the reason behind the rise of TGOD stock.
On February 1st, the Mississauga, Ontario-based cannabis company announced an update on its Valleyfield and Hamilton operations. TGOD revealed that it optimized its facilities, resulting in an increase of capacity from 156,000 kg annually to 202,500 kg. This announcement is likely what got investor attention in the first place.
TGOD stock rose and slightly corrected after the first announcement, and on February 8th, the company revealed its largest supply agreement to date. The cannabis company announced it had secured a cannabis supply agreement with the Ontario Cannabis Retail Corporation. The province of Ontario has the largest population in Canada. From the announcement, TGOD stock grew +7%.
On February 22nd, TGOD provided investors an update on its Jamaican partner Epican Medicinals Ltd. The Green Organic Dutchman owns 49.18% interest in the Jamaican cannabis company. TGOD said that over the last eight months, it had seen significant progress in the country and so it would continue to open more stores and work to increase its production capacity there. From this announcement, TGOD stock grew +18%, only to correct slightly shortly after.
This morning, the cannabis company released yet another positive investor update, and its shares are shining green on the TSX. Just a few hours ago, The Green Organic Dutchman confirmed that it received organic certification from Pro-cert Organic Systems Ltd. This is now the second certification body to endorse TGOD’s organic process at its Hamilton facility.
TGOD focuses its efforts specifically on providing the highest standards for the organic cultivation of cannabis. All of the company’s cannabis is grown in soil that doesn’t contain any synthetic fertilizers, pesticides, or herbicides. Also, the process is never irradiated.
So is TGOD’s second organic certification well deserved? What do you think?
Current TGOD Stock Movement
This morning, TGOD stock is trading at $4.32 a share, up +$0.17 (+4.10%). With its current momentum, the cannabis stock is likely to continue to climb into March. It may be one of the smaller cannabis companies trading on the TSX, but TGOD has strong potential.
What do you think?
Featured Image: Canva