Marijuana stocks jump on news of potential merger with Canopy Growth (CGC)

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April 17, 2019 6:22pm ETF BASIC NEWS

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From Jeremy C. Owens: Canopy Growth Corp. CGC, +7.93% shares spiked more than 10% higher in after-hours trading Wednesday after reports that it is preparing to acquire U.S. pot producer Acreage Holdings Inc. Bloomberg and CNBC reported that the two are in discussions, and that Canopy has shopped around for other U.S.-based assets.

Canopy Growth Corp. (CGC) rose $3.94 (+9.19%) in after-hours trading Wednesday. Year-to-date, CGC has declined N/A%, versus a 8.90% rise in the benchmark S&P 500 index during the same period.

This article is brought to you courtesy of MarketWatch.

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