Pot sector falls into correction territory, but MedMen jumps after $682 million acquisition

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A key tracker of the marijuana industry has fallen into correction territory -- but there's still one pot stock that's a bright spot today.

 

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Igc

CRON up 8% and ACBFF up 5%. You ain’t smoking weed🌬😳

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A competitor is emerging to challenge the marijuana retail chain dominating the industry, and it just closed a $640 million acquisitionBI PRIME: iAnthus, a multistate cannabis dispensary operator, acquired Toronto-based MPX Bioceutical in a $640 million all-stock transaction. The deal comes on the heels of rival MedMen's $682 million acquisition of PharmaCann. BIPrime Are they considering a 'joint' venture?
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Cannabis industry shops for a suit and tieMoney is pouring into weed as valuations rise and legal barriers fall – nudged further by recent U.S. election results. Companies like Canopy, Aurora and MedMen are starting to take on a veneer of acceptability. That doesn’t make them good investments, but it’s progress.
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High-end marijuana retailer MedMen just spent $682 million on the largest US cannabis acquisition in historyMedMen, one of the booming cannabis industry's most recognizable brands, acquired medical marijuana retailer PharmaCann in a $682 million stock transaction. It's the largest cannabis acquisition in the US to date. ShopMedMen Oh Hell Yea..... I own some stock LetsDoThis
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