It seems that after a hard fight for GameStop stocks and the RobinHood scandal, investors from Reddit have decided to bet on something far more relaxing. American cannabis companies experienced a major surge and then a dramatic drop over the week when Reddit investors shifted their focus to the market. According to CNBC, users on the site were discussing the pending merger between Tilray and Aphria – two Canadian companies involved in the production of medicinal cannabis – as well as the possible decriminalization of marijuana under Biden’s administration. As a result, Tilray shares spiked drastically, gaining around 51 percent, and Aurora Cannabis – a licensed cannabis producer, also Canadian – saw a 20 percent raise. However, on Thursday, the pot dropped significantly: shares of Tilray fell 49.7 percent, Aphria lost around 36 percent and Aurora Cannabis fell some 23.5 percent. Canopy Growth shares declined by 22 percent.

Mmp News Author, Medical Marijuana Program Connection, 02/12/2021 09:06:30

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