Is Canopy Growth’s Acquisition of Biosteel a Good Move for the Company?
Acquisitions and partnerships have played a big role in the cannabis industry's early growth stages. Trying to convince investors that they're better buys than their peers, cannabis companies have attempted to be first movers in securing deals to sell products with companies from other industries or major retailers.
Canopy Growth (NYSE: CGC) is one of the companies that's been front and center when it comes to deal-making. It continued to do so when it announced earlier this month that it would be acquiring 72% of BioSteel Sports Nutrition, a nutritional company that's popular with many athletes.
But there are two questions investors should be asking: Is this a good use of resources and does it make the stock a better buy today?
Source Fool.com
