|Bid||59.65 x 0|
|Ask||59.63 x 0|
|Day's Range||59.14 - 63.85|
|52 Week Range||27.00 - 76.68|
|Beta (3Y Monthly)||4.76|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||73.30|
Marijuana M&A heats up, as Canopy buys Acreage. Bruce Linton, Canopy CEO, and Kevin Murphy, Acrage CEO, discuss with CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Brian Kelly, Steve Grasso and Guy Adami.
Constellation Brands is boosting its U.S. beer business while betting that marijuana products will deliver big sales.
Cannabis stocks rallied on Thursday before paring their gains, boosted by the news that the biggest company in the sector by market cap has bought the rights to acquire a U.S. multistate operator as soon as the federal ban on cannabis has been lifted.
It's 420. TheStreet's Jim Cramer discusses Canopy Growth, Tilray, Constellation Brands and other investing opportunities in the cannabis sector!
While cannabis stocks are blazing with popularity, our survey of readers shows that they are still not willing to commit their portfolios to the risky sector
Marijuana stocks: Canada's Canopy Growth agreed to buy U.S. pot grower Acreage Holdings for $3.4 billion - when the U.S. legalizes marijuana nationwide.
The stocks of Canada’s Canopy Growth and the U.S.’s Acreage Holdings rose Thursday after Canopy announced a deal for the rights to acquire Acreage.
White heaped additional praise on Linton, saying, “at some point, he’s going to do something. The acquisition of Acreage marks another standout move for Linton and Canopy, one of the premier names in the global cannabis market.
Canopy Growth's Acreage Acquisition Boosts SentimentThe gains The cannabis sector appeared to show optimism after Canopy Growth (WEED)(CGC) announced that it would acquire Acreage Holdings (ACRGF), a US multi-state cannabis operator with
Canopy Growth to Acquire Acreage Holdings(Continued from Prior Part)Canopy Growth jumps Canopy Growth (WEED) (CGC) announced that it will acquire Acreage Holdings for a total value of $3.4 billion, which led the company’s stock price to jump on
The deal is for the right to purchase Acreage if pot is legalized in U.S. If Canopy were to make the purchase now, it would be acquiring an illegal U.S. asset and its shares would be delisted.
Where are you putting your PINS in this market? Jim Cramer is breaking down the latest Wall Street action live.
Proposed Deal Complements Canopy Growth's U.S. CBD Strategy With An Accelerated Pathway Into U.S. Cannabis Markets, Once Federally Permissible Deal Structure Expected to Provide Improved Access to Capital ...
As the trend of marijuana legalization continues, cannabis-related stocks continue to proliferate. But fundamentals and technicals remain weak for many of the stocks in this space.
Canopy Growth to Acquire Acreage HoldingsCanopy Growth to Acquire Acreage Holdings On April 18, Canopy Growth (WEED) (CGC) announced that it entered an agreement to acquire Acreage Holdings. Acreage Holdings has a presence in 20 states in the US
The story really begins with the November 2017 investment made in Canopy Growth by Constellation Brands that left Constellation with a 38% equity stake in the firm and a pathway toward a controlling interest over a number of years. Cafina comes with a licence already in force to cultivate, distribute and export cannabis for medical and/or research purposes.
Canopy, which was sitting on a pile of cash after a high-profile investment last year from alcohol giant Constellation Brands Inc., has agreed to buy the New York-based marijuana company Acreage Holdings Inc. for $3.4 billion in a cross-border deal that may usher in wave of consolidation in the burgeoning industry. “They know the U.S. is the biggest prize of all,” he said.
FRANKFURT, Germany, April 18, 2019 -- Acreage Holdings, Inc. (“Acreage”) (CSE:ACRG.U) (OTC:ACRGF) (FSE:0VZ) and Canopy Growth Corporation (“Canopy Growth”) (TSX:WEED).
Canopy Growth Corp said on Thursday it had secured a right to buy Acreage Holdings Inc for $3.4 billion once the United States legalizes the production and sale of cannabis. Shares of Canopy Growth surged 7.5 percent to C$61.40 after the two companies said the deal value was at a premium of 41.7 percent over the 30-day volume weighted average price of Acreage subordinate voting shares ending April 16. "Our right to acquire Acreage secures our entrance strategy into the United States as soon as a federally-permissible pathway exists," Canopy Chairman and co-Chief Executive Officer Bruce Linton said.
Canopy Growth Trades Higher on Talks with Acreage Holdings(Continued from Prior Part)Consensus viewOn April 17, Bank of America Merrill Lynch initiated coverage on Canopy Growth (WEED) (CGC) with a “buy” rating. The stock has a price target
The deal would give Canada-based Canopy 100% ownership of Acreage and value the New York, NY-based group at around $3.4 billion. If completed and approved by shareholders, Acreage investors would be paid $2.55 per share upfront, valued at $300 million and a further consideration of 0.5818 Canopy shares once the deal is completed. The deal would also give Acreage access to Canopy's intellectual property and marketing in a move to drive growth in a business that already has licenses or agreements in 19 U.S. states.
Constellation Brands, Inc. (NYSE:STZ and STZ.B), a leading beverage alcohol company, today announced that it plans to enter into an agreement with Canopy Growth Corporation (“Canopy”) (TSX: WEED, NYSE: CGC), a leading diversified cannabis company, to modify certain warrants and other rights. These changes are the result of Canopy’s intentions to acquire Acreage Holdings, Inc. (“Acreage”) upon U.S. Federal cannabis legalization. Earlier today, Canopy announced (see Canopy press release “Canopy Growth Announces Option to Acquire Leading U.S. Multi-state Cannabis Operator, Acreage Holdings”) it has entered into an agreement with Acreage, a U.S. multi-state cannabis operator, where Canopy plans to acquire the shares of Acreage upon U.S. Federal cannabis legalization (the “Triggering Event”), subject to certain conditions. This transaction, as well as proposed modifications to certain Constellation warrants, are subject to approval by Canopy shareholders.
Canada-based Canopy Growth Corp. confirmed Thursday a deal for the right to buy New York-based Acreage Holdings Inc. in a deal that valued at $3.4 billion, when the production and sale cannabis becomes federally legal in the U.S. Canopy's stock soared 8.7% in premarket trade. MarketWatch had reported Wednesday, citing a source familiar with the negotiations, that the deal for the rights to buy Acreage was "98% done." Canopy said the purchase price represents a 41.7% premium over the 30-day volume-weighted average price of Acreage's subordinate voting shares. The deal includes a $150 million termination fee, payable by Acreage. "Today we announce a complex transaction with a simple objective," said Canopy Chief Executive Bruce Linton. "Our right to acquire Acreage secures our entrance strategy into the United States as soon as a federally-permissible pathway exists." Canopy's stock has run up 59.5% year to date through Wednesday and Acreage's stock has climbed 17.5%, while the ETFMG Alternative Harvest ETF has rallied 36.7% and the S&P 500 has gained 15.7%.