The best companies make tough moves in difficult times. With the CBD market struggling and the U.S. economy heading into a recession, Charlotte’s Web Holdings (CWBHF) made the aggressive move to snap up CBD competitor Abacus Health (ABAHF) for a fraction of their previous valuation. The move makes the new company a clear leader in the fractioned CBD space and a survivor when the economy and stock market rebounds.Acquisition DetailsCWH is paying 0.85 shares for each share of Abacus Health. The deal has the company issuing ~19.2 million shares for around 15% of the company.The new entity had a December 31 cash balance of $90.4 million with combined Q3 sales of $29.1 million. Abacus Health distributes 50 SKUs through ~12,000 unique retail doors and 16,500 healthcare providers for a combined entity with access to 15,000 unique doors. The move helps eliminate competition in around 9,000 of those existing stores.Abacus Health provides...
Jeff Kleintop, Chief Global Investment Strategist at Charles Schwab & Co., joins Yahoo Finance Live to discuss recent data and applying it to current market action....
Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed. U.S. stocks deepened their losses late in the session, even after the House of Representatives approved a $2.2 trillion aid package - the largest in American history - to help people and companies cope with an economic downturn caused by the coronavirus outbreak and provide hospitals with urgently needed medical supplies....
Stocks fell Friday, with losses accelerating into the close, even after the U.S. House of Representatives passed a much-anticipated $2 trillion economic relief package. By the end of the session, the Dow was off more than 4%, while each of the S&P 500 and Nasdaq shed more than 3%. Still, steep gains made earlier in the week sent the Dow up a total of 12.8% for the week, for its best weekly gain since 1938. The S&P 500 rose 10.3% for its best weekly gain since 2009....
CBIZ MHM's National Tax Office's Bill Smith joins Yahoo Finance Live to discuss the $2 trillion stimulus bill and what the potential implications are for your payment....
Mary Miller, Former Treasury Under Secretary & Candidate for Mayor of Baltimore, joins Yahoo Finance's Seana Smith to discuss what the recent $2 trillion COVID-19 economic stimulus bill means for Americans at the federal, state and local levels....
