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.

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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.
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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 »