This Cannabis Stock Trend May Hold Clues to the Industry's Future
There's been some significant buyer's remorse of late in the cannabis industry, with would-be acquirers backing out of deals or amending them. It's not uncommon for such deals to change between the time they're proposed and the day they close, but the frequency at which that's happening in the cannabis industry is raising eyebrows among investors.
Below, I'll take a look at some of the more notable deals that have been renegotiated and what that may mean for the industry's future.
On June 25, Canopy Growth (NYSE: CGC) and Acreage Holdings (OTC: ACRGF) agreed to change the terms of their deal. The two companies initially agreed to a deal back on April 18, 2019, under which the Canadian-based pot producer would acquire Acreage and officially enter the U.S. pot market -- but only once marijuana is made legal here at the federal level. Although hemp is already federally legal in the U.S., marijuana is not.
Source Fool.com
