Adding to Curaleaf
Curaleaf ($CURLF) has been on a mission to acquire Aurora Cannabis ($ACB).
Aurora is uninterested and it looks like it might fend off Curaleaf: “Aurora Cannabis Reaffirms Recommendation to Shareholders: REJECT Curaleaf’s Revised Hostile Bid; Preserve Opportunities for Future Upside.”
The short interest in CURLF is up by 57% in the last month to about 1.08 million shares.
Should Curaleaf abandon the proposed acquisition and if cannabis rescheduling goes through, we might see an outsized rise in Curaleaf’s shares as shorts seek to cover.
I have recently added to CURLF based on the above.
Positions: Long CURLF (S)