Why Marijuana Stock Curaleaf Holdings Blasted 11% Higher on Friday

Curaleaf Holdings (OTC: CURLF) announced Friday it has finalized the acquisition of BlueKudu, a Colorado-based maker of high-end edible cannabis products. As part of the deal -- the terms and price of which were not disclosed -- Curaleaf will also acquire BlueKudu's 8,400-square-foot processing facility located in the state's most populous city, Denver. It doesn't share its financial results; regardless it successfully operates in a long-established market -- Colorado was one of the first states to legalize recreational marijuana -- that recently set a new annual sales record of almost $1.75 billion in 2019.