Canopy Growth Wraps Up Acreage Acquisition Expanding US Cannabis Portfolio, What Investors Need To Know
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 09 2024
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Source: Benzinga
Canopy Growth Acquisition: Canopy Growth Corporation has fully acquired Acreage Holdings, Inc. through its U.S. subsidiary, Canopy USA, in a deal valued at $3.4 billion that was initially announced in 2019 and restructured later to proceed regardless of federal legalization of marijuana.
Market Strategy and Leadership Change: With a strong presence in key U.S. states and plans to capture a share of the projected $50 billion retail cannabis market by 2026, Canopy USA is positioned for growth; Luc Mongeau will succeed David Klein as CEO starting January 6, 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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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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