Capital investments in cannabis stocks reached an all-time high last week.
Public and private marijuana companies raised over $8 billion. That total was highlighted by a $3.8 billion investment from Constellation Brands (NYSE: STZ) in Canopy Growth (NYSE: CGC).
The marijuana buyout boom continues to multiply . . .
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This shows the explosive growth in the sector.
The number of companies raising money has nearly doubled. Plus, the amounts of capital is increasing rapidly.
Big deals this week included:
- Canopy Growth — raised $3.8 billion in equity from Constellation Brands. The deal gives Constellation a 38% equity ownership in Canada’s No. 1 cannabis company.
- Hydrofarm – a privately held company – raised $55 million in equity. The company makes equipment used in hydroponic growing of cannabis.
- Surterra Wellness – a medical marijuana company – also raised $55 million from investors. The company operates medical dispensaries in the southeastern United States. The company previously raised $65 million from investors including billionaire William “Beau” Wrigley Jr.
Big money is pouring into these cannabis stocks – especially after the recent pullback.
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