Reddit traders are piling into cannabis stocks and driving up valuations, but experts say they're betting on the wrong companies
Online chatter in the Reddit forum WallStreetBets has turned to pot stocks like Tilray, Aphria, and Sundial.
While experts say it's difficult to link online chatter directly to major market moves, it's clear that the WallStreetBets crowd has been focused on cannabis stocks. . The victories of both Democratic Senate candidates in Georgia's January runoff elections, which gave Democrats control of Congress, added fuel to the rally.
In Schultz's view, US cannabis companies, known as multistate operators or MSOs, like Green Thumb Industries and Curaleaf will ultimately benefit from legalization in the US.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tilray shares surge nearly 40% on deal to import and distribute medical cannabis in the UKTilray stock soared after an agreement with Grow Pharma to import and distribute its medical cannabis products in the United Kingdom.
Read more »
Short interest in cannabis stock Tilray surged in past week: OrtexShort interest in cannabis producer Tilray Inc increased in the past week, with 36.6% of its freefloat out on loan, according to estimates from financial analytics firm Ortex on Wednesday.
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.
Read more »
Tilray shares soar 29% as Reddit message board sets sights on cannabis sectorShares of Canadian cannabis company Tilray Inc. soared 29% Wednesday. The same investor group that caused the shares of videogame retailer GameStop Inc. to climb to dizzying heights appeared to now have the stock in their crosshairs.
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.
Read more »