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HYFM - Greenlane: Merging With KushCo Makes A Lot Of Sense
Hydrofarm Holdings Group Inc.
Greenlane's Q4 2020 results showed continued progress towards growing its cannabis business while winding down nicotine products.
Greenlane will merge with KushCo in a 50/50 all-stock deal that will create a leading cannabis supply chain ancillary play.
We think the merger is logical and will improve the competitiveness and resilience of Greenlane; last week's 50% rally is overdone but we begin to like the long-term outlook here.