Canopy Growth Set To Complete Acreage Acquisition, Leaving Some Shareholders Potentially Open To Losses
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 03 2024
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Source: Benzinga
Acquisition Details: Canopy Growth Corporation is set to complete its acquisition of Acreage Holdings by December 9, 2024, for $3.4 billion, following a restructured deal contingent on U.S. federal marijuana legalization.
Market Impact and Leadership Changes: Canopy's stock has declined while Acreage's shares have risen; the company aims to strengthen its U.S. market presence under new CEO Luc Mongeau, who will take over in January 2025.
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Analyst Views on WEED
Wall Street analysts forecast WEED stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WEED is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 17.070
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Current: 17.070
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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