It’s time for your Daily Hit of cannabis financial news for February 3rd, 2020.
On the Site
Will Cannabis Affect How Smart You Are?
There is no definitive proof that cannabis use affects how smart you are, despite popular belief. Some research, in fact, might suggest the opposite.
Jazz Pharmaceuticals is Buying GW Pharmaceuticals in $7.2 Billion Deal
Jazz Pharmaceuticals plc (Nasdaq: JAZZ) is buying GW Pharmaceuticals plc (Nasdaq: GWPH) in a deal valued at $7.2 billion or $6.7 billion net of GW cash. Jazz will acquire GW for $220.00 per American Depositary Share (ADS), in the form of $200.00 in cash and $20.00 in Jazz ordinary shares.
Scotts Miracle-Gro Reports Record Sales, Raises Guidance
The Scotts Miracle-Gro Company (NYSE: SMG) reported that company-wide sales increased 105% to a record $748.6 million in its fiscal first-quarter primarily driven by strong retailer support in the U.S. Consumer segment as well as continued momentum in Hawthorne, the company’s hydroponic subsidiary
In Other News
springbig Acquires BudTender
Cannabis marketing and communications technology company, springbig, announced their acquisition of BudTender. BudTender is a customer experience platform based in Canada. The acquisition will add over 200 clients to the existing customer base at springbig, and will increase their market share to over 1,900 retail partners across Canada and the United States.
Cannabis Stocks Soar in Response Announced Acquisition
Alternative Harvest, Cronos, GW Pharmaceuticals, Aurora, Tilray, and Aphria are among those cannabis stocks to rise following the news of Jazz Pharmaceuticals announcing their future acquisition of GW Pharmaceuticals.
MedMen to Announce Fiscal Results
MedMen announced their plans to release second quarter fiscal 2021 financial results on February 16th, 2021. Following the announcement, the MedMen team will host a conference call with various key participants.