Should You Buy Acreage Holdings?
No doubt, an eventual buyout by cannabis giant Canopy Growth (NYSE: CGC) will be lucrative for Acreage Holdings (OTC: ACRGF) shareholders. As per an agreement inked last year, Canopy will acquire Acreage once the U.S. legalizes marijuana at the federal level. But that isn't the only reason investors should consider this stock.
Like most U.S. cannabis companies, Acreage has produced good revenue numbers recently. In the fourth quarter of 2019, its reported revenue rose 101% year over year to $21.1 million, and its full-year revenue grew 251% to $74.1 million. And that was before the COVID-19 pandemic hit -- reflecting Acreage's successful efforts to expand sales even before the panic buying began.
Image Source: Getty Images.
Source Fool.com
