Cannabis company Tilray, which recently merged with rival Aphria, has seen its stock surge as of late thanks to — you guessed it — love from the Reddit crowd.
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As backers tout the growing number of states legalizing recreational and medical marijuana, some investors are holding out for the dream scenario of federal legalization — even though that might be a stretch in the near term. But are investors going a little crazy? Tilray is now up more than 130% this year. That's much higher than the gains for rivals Canopy Growth and Cronos , which have the backing of consumer products giants Constellation Brands and Altria , respectively.
Fund manager says meme stock phenomenon is not a fad 01:58But some backers aren't deterred by the recent pullback. One Redditor on the site's Tilray board wrote the following message to any would be short sellers:"Weed Stocks to Bears: I'm not leaving.
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