The U.S. Drug Enforcement Administration has officially registered publicly traded Bright Green Corp. as a federally licensed cannabis cultivator and product manufacturer.
Including Bright Green, eight entities are now registered with the DEA as federally licensed cannabis “bulk manufacturers.”
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Bright Green – which recorded zero revenue in its fourth quarter ended Dec. 31, 2022 – has announced plans to build production and drug manufacturing facilities in the small New Mexico town of Grants.
The announcement about the DEA’s decision comes nearly one year after Bright Green’s shares debuted on the Nasdaq, on May 17, 2022.
The stock, which trades under the ticker symbol BGXX, opened trading Monday at $15.99 after the Nasdaq issued an $8 reference price for what is called a direct listing.
Shares traded as high as $36.44 before closing at $25.25, reflecting a 216% increase over the reference price.
The shares have since
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