The stocks of cannabis companies have reached a record level, increasing their gains, which have been going on for months, after supporting Reddit, the social news and discussion platform.
In a post on the WallStreetBets group inside the Reddit forum, which has increased the shares of GameStop Corp, AMC Entertainment and some other companies last month, it was stated that the shares of cannabis producers Tilray Inc and Aphria Inc.
This post about the increase in the shares of cannabis companies was liked by about 10,000 users within 12 hours, and the shares of both companies increased by 21% and 10% respectively.
Shares of the largest cannabis producer, Canopy Growth Corp, in the US stock market rose 3% yesterday after announcing its quarterly financial balance. The fund that follows ETFMG cannabis shares, which has doubled in value since the US presidential election in November, rose 7.3%.
With the legalization of cannabis in the major states of the USA and the Democratic Party’s promise to legalize cannabis cultivation at the state level, the shares of other cannabis producers have also reached record levels.
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