PRISM MarketView Cannabis Index Top Mover: Clever Leaves Holdings (CLVR)

A top mover in the PRISM MarketView Cannabis Index, Clever Leaves (NASDAQ: CLVR) stock traded up following the news of its Australian GMP Certification for cannabis products by the Therapeutic Goods Administration (TGA). Over the past five days, the stock has rallied up 73% and has a current share price of ~$4.15.

The global medicinal cannabis company was recently granted certification to manufacture cannabis products for patients in Australia from the TGA, the regulatory body for health products in Australia. With this news, Clever Leaves becomes the first and only medicinal cannabis company with GMP certifications from the European Union, Australia, Brazil and Columbia.

The Australian GMP certification ensures “delivery of the highest quality medicinal cannabis to patients,” akin to the stringent EU-GMP certification. This certification is required to manufacture and commercialize cannabis products in Australia.

“The awarding of Australian-GMP certification signifies a major milestone for Clever Leaves by further highlighting our commitment to producing high-quality and safe cannabis products in one of the fastest growing and largest medicinal cannabis markets globally,” said Clever Leaves CEO Andres Fajardo in a prepared statement. “We will continue distributing through our partners, with whom we are already distributing finished cannabis products to patients in the country.”

With the goal of disrupting traditional cannabis production by leveraging environmentally sustainable and ESG-friendly low-cost production methods, Clever Leaves is dedicated to premium, high-quality standards throughout its production processes while maintaining the world’s most stringent pharmaceutical quality certifications.

Learn more about the PRISM Emerging Cannabis Index, which tracks small and micro-cap stocks that are developing or marketing medical or legal marijuana products, at https://demo4.limegoat.com/index/cannabis/