Why Curaleaf Holdings Trounced the Market Today
U.S. multi-state operator (MSO) Curaleaf Holdings' (OTC: CURLF) stock did even better than the bull-dominated stock market on Thursday. The marijuana-company's shares rose by 3%, trouncing the 0.6% gain of the S&P 500 index, on the back of a new acquisition.
Thursday morning, Curaleaf announced it has entered into a definitive agreement to purchase an Arizona dispensary owner called Natural Remedy Patient Center. This will be effected in a mix of cash and Curaleaf stock.
Specifically, the company will pay $12 million in cash, with subordinate voting shares comprising the remainder. The acquisition is expected to close in January.
Source Fool.com
