Cannabis mega-mergers could create industry giants. Weeks after Tilray and Aphria merged, Trulieve Cannabis just announced its plans to acquire Harvest Health & Recreation in a $2.1 billion all-stock deal. Combined they would be one of the largest cannabis companies in the world in terms of sales, notes Barron’s. Coupled with state and potential federal legalization of cannabis could be substantial news for companies like Allied Corp. (OTCQB:ALID), Aleafia Health Inc. (TSX:AH)(OTCQX:ALEAF), Canopy Growth Corporation (NASDAQ:CGC)(TSX:WEED), Tilray Inc. (NASDAQ:TLRY), and Charlotte’s Web Holdings Inc. (TSX:CWEB)(OTCQX:CWBHF).
In fact, not only are more states legalizing cannabis, but we could soon see a federal legalization bill from Senate Majority Leader Chuck Schumer. According to Marijuana Moment, “Schumer for months has signaled that he and Democratic colleagues Sens. Cory Booker (D-NJ) and Ron Wyden (D-OR) intend to bring legislation this session to legalize cannabis nationwide, though the group has not yet revealed their proposal.” … Read more