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Low-Cost Pot Stocks To Consider, According To Paper Street Capital Founder Jason Spatafora
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Low-Cost Pot Stocks To Consider, According To True Trading Group Partner Jason Spatafora
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(Reuters) -Canada’s Canopy Growth Corp said on Thursday it will buy rival Supreme Cannabis Co Inc for C$323.3 million ($256.85 million), as the world’s biggest cannabis producer bolsters its portfolio to tap surging demand.
FILE PHOTO: A sign featuring Canopy Growth Corporation s logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 . REUTERS/Chris Wattie/File Photo
Shares of Canopy, up 15% this year, fell around 4.6% to C$36 after it announced the cash-and-stock deal for Supreme, which owns pot brands including 7ACRES and Blissco. Supreme shares surged 50% to C$0.40.
The opening of more retail stores and a rise in weed use during the pandemic has brought back investor dollars for cannabis producers after years of underperformance. Hopes of U.S. reforms allowing cross-border commerce are also boosting investments in the sector.
2 Min Read
(Reuters) -Canada’s Canopy Growth Corp said on Thursday it will buy rival Supreme Cannabis Co Inc for C$323.3 million ($256.85 million), as the world’s biggest cannabis producer bolsters its portfolio to tap surging demand.
FILE PHOTO: A sign featuring Canopy Growth Corporation s logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018 . REUTERS/Chris Wattie/File Photo
Shares of Canopy, up 15% this year, fell around 4.6% to C$36 after it announced the cash-and-stock deal for Supreme, which owns pot brands including 7ACRES and Blissco. Supreme shares surged 50% to C$0.40.
The opening of more retail stores and a rise in weed use during the pandemic has brought back investor dollars for cannabis producers after years of underperformance. Hopes of U.S. reforms allowing cross-border commerce are also boosting investments in the sector.
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(Reuters) -Canada s main stock index opened higher on Thursday as investors bet on a faster global economic rebound, while a jump in gold and copper prices helped mining stocks.
The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.3% as gold futures rose 0.5% to $1,748.7 an ounce to hit a three-week peak. [GOL/] [METL/] At 9:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange s S&P/TSX composite index was up 8.37 points, or 0.04%, at 19,137.44. Canada s Canopy Growth Corp said on Thursday it will buy rival Supreme Cannabis Co Inc for C$323.3 million ($256.85 million), as the world s biggest cannabis producer bolsters its portfolio to tap surging demand.
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