Why Canopy Growth Stock Jumped 16.5% in April
The primary catalyst for Canopy stock's rise last month was the company's announcement on April 18 that it was buying the rights to acquire Acreage Holdings (NASDAQOTH:ACRGF), a U.S.-based cannabis producer. The deal involves Canopy paying $300 million up front for the right to acquire Acreage for $3.4 billion if and when the U.S. federal government legalizes marijuana.