Author Bio
Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.
Marijuana stock
Curaleaf (OTC:CURLF) didn t get a lot of investors high Monday, despite delivering better-than-expected revenue for its inaugural quarter of 2021.
For the marijuana company s first quarter, the figures for which were published that morning, it booked $260 million in revenue, 170% higher on a year-over-year basis and 13% better than the fourth-quarter 2020 number. It was also a new all-time Q1 record for Curaleaf.
POLITICO
Get the Florida Playbook Newsletter
Email
Sign Up
By signing up you agree to receive email newsletters or updates from POLITICO and you agree to our privacy policy and terms of service. You can unsubscribe at any time and you can contact us here. This sign-up form is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Hello and welcome to Tuesday.
It’s all about the stimulus, stupid Democrats have already hammered Gov. Ron DeSantis for failing to note how the money he’s relying on this summer to hand out $1,000 bonuses to police officers, firefighters and teachers came from the federal government (amid unanimous Republican opposition).
In Booming Cannabis Industry, Look for Even More M&A Activity
Cannabis mega-mergers could create industry giants. Weeks after Tilray and Aphria merged, Trulieve Cannabis just announced its plans to acquire Harvest Health & Recreation in a $2.1 billion all-stock deal. Combined they would be one of the largest cannabis companies in the world in terms of sales, notes Barron’s. Coupled with state and potential federal legalization of cannabis could be substantial news for companies like
Allied Corp. (OTCQB:ALID),
Canopy Growth Corporation (NASDAQ:CGC)(TSX:WEED),
Tilray Inc. (NASDAQ:TLRY), and
Charlotte’s Web Holdings Inc. (TSX:CWEB)(OTCQX:CWBHF).
Trulieve Cannabis to Buy Harvest Health for $2.1 Billion
Trulieve Cannabis agreed to pay $4.79 a share for Harvest Health, which the companies said would create the largest U.S. multistate cannabis firm.
Author:
May 10, 2021 8:57 AM EDT
Shares of Harvest Health & Recreation HRVSF jumped Monday after it agreed to be bought by Trulieve Cannabis TCNNF for about $2.1 billion, creating what the companies said would be the largest U.S. multistate cannabis firm.
Under the terms Trulieve, Tallahassee, Fla., will pay 0.117 share for each share of Harvest. The figure values shares of Harvest, Phoenix, at $4.79 each.
Harvest holders would get a total of 26.7% of the new company.