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Fly News Breaks for September 20, 2019
CGC, ACRGF
Sep 20, 2019 | 07:33 EDT
MKM Partners analyst Bill Kirk last night initiated coverage of Acreage Holdings (ACRGF) with a Buy rating and $17 price target. There is an "extreme disconnect" between the implied value of Acreage given Canopy Growth's (CGC) commitment to purchase the company if and when U.S. federal legislation legalizes cannabis, Kirk tells investors in a research note. A contractual 0.5818 exchange for Canopy shares on 142.6M Acreage shares implies a $17 per share value for Acreage Holdings, well above the stock's current value of around $8, says the analyst. Kirk understands the discount given the uncertainty around federal legislation, but he points out the Canopy offer currently represents ~100% upside.
News For ACRGF;CGC From the Last 2 Days
CGC
Mar 27, 2024 | 10:46 EDT
Bullish option flow detected in Canopy Growth with 18,324 calls trading, 3x expected, and implied vol increasing almost 7 points to 203.48%. 3/28 weekly 8 calls and 3/28 weekly 11 calls are the most active options, with total volume in those strikes near 11,200 contracts. The Put/Call Ratio is 0.18. Earnings are expected on May 30th.