Sam is a trader and one of our lead stock analysts at AskTraders. After starting his career predominantly in the forex markets, Sam now focuses on gold and stocks with a preference for macroeconomic analysis.
Shares of FastForward Innovations (LON: FFWD) are gaining on Friday after Little Green Pharma announced an additional A$2.5m purchase order for its high THC cannabis flower medicine from German pharmaceutical wholesaler Deutsche Medizinalcannabis GmbH.
Little Green Pharma is an investee company of FastForward Innovations.
The purchase order is for delivery at the end of 2021 and follows consistent growth in the size of quarterly DEMECAN purchase orders.
FastFoward said the increased order reflects the demand from Germany and the confidence in Littel Green's quality and supply.
Ed McDermott, CEO of FastForward Innovations, commented: “As one of our most recent investments in the medicinal cannabis space, we are pleased to note the progress being made in Little Green Pharma's strategy to increase patient access to medicinal cannabis.
“The further order from DEMECAN in Germany demonstrates the increasing global demand for LGP's GMP-grade medicinal cannabis products and we look forward to further positive updates from LGP.”
FastFoward's share price is currently trading 2% above Thursday's close at 8.50p.
FastForward Innovations shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are FFWD shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .