Why Flora Growth Shares Shot Nearly 7% Higher on Friday

The stock of Canadian marijuana company Flora Growth (NASDAQ: FLGC) produced a sweet high for investors at the end of the week by closing Friday almost 7% higher. That was on the back of the company's announcement that it has signed a deal to enter a new market in Latin America.

Flora Growth isn't wasting any time jumping into what is almost certain to become the world's newest medical marijuana market, Panama. The cannabis company announced that it has signed a letter of intent with that country's Robust Farms covering the import of Flora Growth's cannabidiol-derivative products.

The Canadian company did not disclose any financial particulars of the arrangement.

Source Fool.com