Connect with us

Hi, what are you looking for?


Reddit Investors Show Interest in Cannabis Stocks

A WallStreetBets Post Sparks Interest in the Growing Market

Currently, a majority of the US population supports the decriminalization of marijuana and related products. With changes in laws, several states have started to be more accepting of legal cannabis businesses. The recent shift in administration has raised expectations for a continued positive trend. Along with the legalization and consumption of cannabis, there are also new investment opportunities arising.

Today, US cannabis stocks saw an increase as shares of companies like Tilray Inc and Aphria Inc surged by 21% and 10% respectively. This sudden rise is attributed to a post on the WallStreetBets subreddit, the same platform that drove the recent surge in GameStop stock. A post on the subreddit suggested that the shares of these companies have room for growth, leading many retail investors on the forum to invest. The post garnered over 10,000 likes within twelve hours.

Following the GameStop incident, both casual and professional investors have been closely monitoring the activities on the WallStreetBets subreddit as it seems to signal potential hot stocks and consumer sentiment.

“I don’t believe the retail investor story disappears quickly,” commented Mirabaud sales trader Mark Taylor to Reuters. “I’m mainly observing the price movements and trying to interpret it all.”

Several officials in President Joe Biden’s administration have vowed to make changes and progress in the regulation of the cannabis industry. However, some argue that since companies like Tilray and Aphria are Canadian, US policies might not impact them significantly, potentially making their growth in the US stock market unsustainable.

You May Also Like


Peloton, known for their stationary exercise bikes and treadmills, has faced significant financial challenges over the past year. The company experienced a surge in...


Amid the ongoing global supply chain challenges, many retailers in the United States are grappling with surplus seasonal stock, leading to increased storage costs...


With the continuous increase in gas prices, a decrease in consumer confidence, and the ongoing conflict in Ukraine, the European economy faces significant challenges....


As the demand for electric vehicles grows and the push for environmental sustainability increases, automakers are gearing up to focus more on the development...


Today, Brian Armstrong, the CEO of Coinbase, conveyed to his team through a company-wide email that due to declining stock and crypto values and...


Recently, Peiter “Mudge” Zatko, a former cybersecurity specialist at Twitter, published a whistleblowing document on the platform. Zatko highlighted several security issues with Twitter,...


Zelle is a popular peer-to-peer payment service that allows individuals to send and receive money, similar to apps like Venmo. It is widely used,...


Recently, after Chinese President Xi Jinping secured a third term, there was a sharp decline in the stock market in Hong Kong. Investors became...