Acreage Holdings Q1 Results Disappoint: Will the Amended Deal with Canopy Growth Help?
The struggles of the marijuana industry are not hidden. Though the COVID-19 pandemic caused a bump in cannabis sales after the product was deemed essential, it wasn't enough to ease the financial burden most U.S. cannabis companies face because of the illegal federal status of marijuana. One such company is Acreage Holdings (OTC: ACRGF), which despite striking revenue growth has still failed to hit profitability and is bearing the brunt of a cash crisis.
Amid the economic downturn -- and with the pot industry facing a particularly tough financial scenario -- Canopy Growth (NYSE: CGC) and Acreage decided to amend the deal they made last year for the former to acquire the latter.
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Source Fool.com
