REUTERS: A political shift in the United States has unlocked an estimated US$1.38 billion jackpot for struggling pot producers who have cashed in on a surge in their shares since President Joe Biden's election in November.
Retail investors have also piled into the pot sector this week, with Tilray, Aphria and Sundial Growers emerging as the new favorites of Reddit's popular WallStreetBets forum that was behind recent rallies in some shorted stocks. Considered by many analysts to be a bankruptcy risk earlier, the company has improved its cash position from US$22 million to over US$600 million in just four months and fully repaid its current debt obligations.
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