Cannabis stocks light up Reddit as sector surges to new highs

Shares of Tilray jumped 40% in morning trading, while shares of Canopy Growth Corp and Aurora Cannabis Inc both rallied more than 12%. The ETFMG cannabis stocks exchange-traded fund, which has more than doubled in value since November’s U.S. presidential elections, gained nearly 10%, while the broad S&P 500 index edged just 0.2% higher before turning lower.

Swaggystocks, which aggregates sentiment on shares talked about in the WallStreetBets forum, showed Tilray was the most upvoted, or highly touted, stock in the group. However, some analysts argue that the valuations of the companies are becoming unjustifiable, especially for Canadian companies like Tilray, Aphria and Canopy Growth, which may gain very little from U.S. changes.

Shares of Tilray, which is being taken over by Aphria in a complicated reverse merger, are up more than 400% since the deal was announced in December following new agreements to supply its medical cannabis to European markets.

Let’s federalize it JoeBiden and add more jobs

$SNDL

The best choice I've made this year was investing in cryptocurrency and forex trading and earning from home. With the help of michealweldon_1 I've been earning $26k weekly I've never regretted this decision. 🙏🏻🙏🏻

So many bitcon traders on Twitter are trickster markdonaldAmeli thank you for opening my eyes to their ways now I’m pretty sure I’ll be able to help others

4. 우리는 항상 주님께 기쁨이 되는 삶을 살기 위해 고군분투해야 합니다. 회개와_거룩함 주님의_길을_예비하라 메시아께서_오신다 LiveGloriousExpo

HearTheVoiceOfMyanmar AungSanSuuKyi_government savemyanmar_democracy

“Light up” “New highs” - I see what you did there Reuters. 😏

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cannabis stocks Tilray, Aphria, Sundial surge on Reddit: analysisReddit traders are piling into cannabis stocks and driving up valuations, but experts say they're betting on the wrong companies Any cannabis stock is the right stock so.. OGI will disagree with experts when it starts to take off. Same with HEXO. stonks OGI HEXO StockMarket ToTheMoon 'Experts' 'Wrong companies' Sounds like someone is peanut butter n jealous they chose the wrong boomer stocks. Those experts could have instead gotten in on cheap, potentially $90 billion industry stocks. 🤣🙌💎
Source: BusinessInsider - 🏆 729. / 51 Read more »

Cannabis stocks soar as Reddit crowd that spiked GameStop jumps in, Tilray surges 25%The trio of cannabis companies are garnering attention from the same Reddit army that contributed to the epic short squeeze in GameStop last month. SNDL is a good one 😏😎 Cannabis surges, given movement at both the state and federal levels make a ton of sense. LiveGloriousExpo 주님께서는 심판하시기 이전에, 모든 사람들에게 회개할 기회를 주십니다.
Source: CNBC - 🏆 12. / 72 Read more »

Reddit trader-favored cannabis stocks jump again on ThursdayThe group of cannabis companies are garnering attention from the same WallStreetBets Reddit army that contributed to the epic short squeeze in GameStop last month. I wish this wasn’t going on. I’m a long term hold kind of guy. Tilray/Aphria should be good to slowly grow without Reddit The REAL reason cannabis is up, stop pushing the BS “reddit traders” narrative to scare ppl into thinking it’s manipulation.
Source: CNBC - 🏆 12. / 72 Read more »

Cannabis stocks soar as Reddit crowd that spiked GameStop jumps in, Tilray surges 50%Aurora CEO Miguel Martin is not worried about Reddit interest or short squeezes in the cannabis space. 'The long term story of cannabis is that it's going to be a good business economically and has a lot of upside,' he says. This guys a con artist. How many offerings has $ACB done in the past year? Just burns cash more than it burns pot 😁⚠️💎🎁🚀🌙 “upside”
Source: CNBC - 🏆 12. / 72 Read more »