In April, CGC stock has gained 16.5%, compared to the S&P 500’s return of 4.1%. Moreover, for this year, Canopy Growth (TSX:WEED) (NYSE:CGC) stock has gained 82.7% since the beginning of the year against the S&P 500 return of 18.3% over the period.
Acquisition of Acreage HoldingsThe gain of CGC stock in April is attributed to the recent announcement that Canopy Growth was buying rights to acquire Acreage Holdings Inc. (OTCQX:ACRGF), a cannabis producer based in the US. The deal to acquire Acreage Holdings involves paying an upfront fee of $300 million for the right ...
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