On Monday, the Minerco Inc (OTC: MINE) stock was one of the major gainers in the markets after the company announced a major acquisition that is aimed at bringing efficiency to its operations.
The company announced that it completed the acquisition of White Label CBD, which is involved in the cultivation of hemp to full-spectrum private label manufacturing of hemp-based CBD products. The news of the acquisition came as a major boost to the Minerco stock and it soared by as much as 42% on Monday on the back of the announcement.
In addition to that, it should be noted that Minerco is also going to get ownership of highly specialized equipment through this acquisition. It will provide the company with the capability of producing as many as 1 million micro-dosed psilocybin tablets on a daily basis. It is clear to see that the acquisition could come as a significant boost to Minerco. It remains to be seen if the stock adds to its gains today.