Marijuana Stocks Rise on M&A Rush to Be ‘Coca-Cola of Cannabis’

July 17, 2019, 8:41 PM

Marijuana stocks are getting a lift following an $875 million acquisition that leaves other major cannabis players angling for market share ahead of potential full-scale legalization in the U.S.

Curaleaf Holdings Inc. agreed to acquire Chicago-based Grassroots Cannabis in a deal that gives the most valuable U.S. cannabis company a footprint in the Midwest. Canopy Growth Corp., Tilray Inc., Aurora Cannabis Inc. and others climbed on the news.

The so-called “green rush” is catching on as the cannabis industry outgrows prohibition, Ladenburg Thalmann said in a note as the firm initiated coverage on cannabis companies Canopy, Tilray, Aurora and Acreage ...

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