Acreage Holdings Inc. (OTC: ACRGF) is a cannabis company that controls assets and licenses to cultivate, process, and distribute in the United States. Rapidly growing, the company has received large cash injections from Canopy Growth, one of the major players in the cannabis industry.
Acreage was in the process of brokering a buyout from Canopy Growth, under the condition that cannabis would be legalized at the federal level. With legislation likely years away, Canopy has instead decided to invest $37 million into Acreage to support growth, while guaranteeing an additional $100 million in funding through loans as the company continues to grow. Support from one of the largest cannabis companies indicates that creage Holdings is one of the top stocks to watch on the market today. Acreage is one of the largest multi-state operators, giving it access to U.S. markets that have legalized recreational and medical marijuana.
Revenue growth shows just how strong Acreage Holdings is today. In the 2019 fiscal year, revenue was up 250.83%. Gross income was up 302.94% in the same period, contributing to a gross profit margin of 30.83%. Analysts predict that this stock will hit $4.31 in the current fiscal year, suggesting that new investors will see strong gains when buying at today’s price.
- 1 Year Price Growth: -80.70%
- YTD Price Growth: -53.03%
- 3 Month Price Growth: 49%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.