10:03 AM EDT, 03/23/2022 (MT Newswires) -- US-listed cannabis stocks jumped in morning trading on Wednesday after Cresco Labs agreed to acquire Columbia Care and Aurora Cannabis (ACB) said it would buy TerraFarma.
Tilray Brands (TLRY), Canopy Growth (CGC) and Sundial Growers (SNDL) gained 7%, 4%, and 4%, respectively, in recent trading.
Earlier on Wednesday, cannabis producer Cresco Labs said it has agreed to acquire Columbia Care in an all-stock deal valued at $2 billion. The deal is slated to be completed in Q4.
Late Tuesday, Aurora Cannabis said it would acquire Thrive Cannabis' parent company, TerraFarma, in a $38 million cash-and-stock deal. The transaction is set to close in Aurora's fiscal Q4.
Price: 6.00, Change: +0.32, Percent Change: +5.63