The trio of cannabis companies are garnering attention from the same Reddit army that contributed to the epic short squeeze in GameStop last month.
The group of cannabis companies are garnering attention from the same WallStreetBets Reddit army that contributed to the epic short squeeze in GameStop last month. Several posts on the social media forum show users expressing optimism about the stocks' upside.
"The shorts have mostly gone home for the year so the unwinding isn't as much of a tailwind as it was for the early price action it just really is just that much buying and not much resistance," said the analyst. "It's very difficult to justify where these stocks are trading right now." Part of the discussion on Reddit has centered around the pending merger between Tilray and Aphria. According to a December press release, Aphria shareholders are set to receive roughly 0.84 shares of Tilray per one share of Aphria when the deal closes.
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