TLRY - U.S. and Canadian cannabis stocks jump as deal making picks up

U.S. Multi-State Operators and Canadian Licensed Producers are outperforming in the morning hours Wednesday as the industry shows signs of consolidation with two newly announced deals.    On Tuesday after the close, Edmonton, Canada-based Aurora Cannabis (NASDAQ:ACB) announced an agreement to acquire TerraFarma for $38 million in cash and stock. Its U.S. counterpart, Canopy Growth (NASDAQ:CGC), followed up on Wednesday with plans to acquire the rival MSO Columbia Care (OTCQX:CCHWF) for nearly $2 billion, including debt. In addition to Aurora Cannabis (ACB) and Canopy Growth (CGC), notable gainers include Tilray (NASDAQ:TLRY), MedMen Enterprises (OTCQB:MMNFF), HEXO (NASDAQ:HEXO). Early this month, Tilray (TLRY) agreed to acquire more than $211M worth of senior secured convertible notes issued by, Hexo (HEXO), which enabled its local rival to avoid a major default of debt. The uptick in cannabis stocks comes at a time the sector has underperformed the broader market in the year so far, as shown in

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U.S. and Canadian cannabis stocks jump as deal making picks up