Why Marijuana Stock Curaleaf Holdings Blasted 11% Higher on Friday

Curaleaf Holdings (OTC: CURLF) announced Friday it has finalized the acquisition of BlueKudu, a Colorado-based maker of high-end edible cannabis products. As part of the deal -- the terms and price of which were not disclosed -- Curaleaf will also acquire BlueKudu's 8,400-square-foot processing facility located in the state's most populous city, Denver.

BlueKudu has been concocting its tasty and heady treats since 2011, which is an eternity by the standards of the young cannabis industry. It doesn't share its financial results; regardless it successfully operates in a long-established market -- Colorado was one of the first states to legalize recreational marijuana -- that recently set a new annual sales record of almost $1.75 billion in 2019.

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Source Fool.com