EA Soars on LBO Report; Weed Stocks Rise on Trump Comments; Genmab-Merus Acquistion
On this episode of Stock Movers:
- Shares of Electronic Arts (EA) soar on news the company agreed to sell to a group of private investors in a deal that values the company at about $55 billion, marking the largest leveraged buyout on record.
- Weed stocks including Tilray (TLRY), Cronos (CRON), and Canopy Growth (WEED) are trading higher in the US premarket session after President Trump posted a video on social media Sunday that touts medical benefits of “hemp-derived CBD” for seniors.
- Shares of cancer drugmaker Merus (MRUS) rise in early trading as Genmab (GMAB) agrees to acquire all of the company's shares in an all-cash transaction representing a transaction value of approximately $8 billion.
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