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Will This Recently Announced Acquisition Make Canopy Growth Profitable at Last?

Will This Recently Announced Acquisition Make Canopy Growth Profitable at Last?

Canopy Growth (NASDAQ: CGC) has struggled to break even for years. Most recently, the company announced plans to acquire Supreme Cannabis (OTC: SPRWF), a move that it says will help it achieve its goal of getting to profitability. On April 8, Canopy Growth announced that it will acquire Supreme Cannabis for 435 million Canadian dollars ($348 million) in a stock-based deal.