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Pot Stocks in Play - Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) Joins TSX Volume Leaders

 

May 9, 2024 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas, reports on trading for Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC), a leading North American cannabis and consumer packaged goods ("CPG") company dedicated to unleashing the power of cannabis to improve lives.

The stock is trading at $13.1, up .72, gaining 5.81%, with a morning high of $13.49. The stock is one of the top volume leaders on the TSX, currently trading over 2.5 Million shares.

The stock has realized volatile trading in the past week, moving up and down on speculation of the US DEA declassification of marijuana.

Canopy recently confirmed that Canopy USA, LLC has exercised the options to acquire Wana and Jetty .

The exercise of these options is a critical next step to enable Canopy USA to fulfill its intent to establish a leading, brand-focused powerhouse. It is also expected that once completed, these acquisitions will enable Canopy USA to realize compelling financial benefits, including the ability to drive revenue growth, and realize cost synergies across the Canopy USA ecosystem.

"With these acquisitions now triggered, Canopy USA has taken a crucial step forward in bringing together these high potential businesses and will soon be able to demonstrate the full potential of this ecosystem across the U.S. cannabis market," said David Klein, Chief Executive Officer of Canopy Growth. "In addition to the positive signals we're seeing on near term regulatory reform in the U.S., there's significant potential in putting together leading brands like Wana and Jetty, and we're excited to see how these brands can collaborate to become even stronger".

News:

https://ca.finance.yahoo.com/news/canopy-growth-confirms-canopy-usas-113000833.html

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