Why Bright Green Stock Was a Hot "Go" Stock Today
One of the more unusual stocks in the unusual industry of marijuana, Bright Green (NASDAQ: BGXX), was quite the outlier on Thursday. In contrast to the sluggish performance of other weedies, Bright Green's stock sparked more than 12% higher, an apparent slow-burn reaction to some promising news the company announced earlier in the week.
What makes Bright Green such a standout company is that it is the only publicly traded business licensed by the U.S. federal government to grow and sell (to licensed entities) marijuana and related products. Weed is technically illegal at the federal level, which is the main reason why there isn't a plethora of companies like Bright Green.
Tuesday morning, Bright Green announced -- despite being a pre-revenue business -- that it has signed a letter of intent with the U.K.'s Alterola Biotech to begin acquiring the British cannabis-focused pharmaceutical company.
Source Fool.com
