CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

09:37 · 11 February 2021

Cannabis stocks rally as Reddit army jumps in

Cannabis stocks have recently gathered attention as Reddit traders reportedly targeted the industry now. Earlier the same WallStreetBets Reddit army contributed to speculative frenzy leading to a short squeeze in GameStop among others. Now the same group seems to be betting that cannabis stocks might benefit from potential cannabis federal legalisation under the new Democratic administration. Some companies literally skyrocketed yesterday - Tilray (TLRY.US) soared 50% while Aurora Cannabis (ACB.US) gained as much as 21%. 

Below we present some stocks with exposure to cannabis, which you may find in xStation5: 

  • Tilray (TLRY.US)

  • Aurora Cannabis (ACB.US)

  • Aphria (APHA.US)

  • AbbVie (ABBV.US)

  • Anheuser-Busch inBev (BUD.US)

  • Altria Group (MO.US)

  • The Scotts Miracle-Grow Company (SMG.US)

  • Molson Coors Beverage Company (TAP.US)

  • GW Pharmaceuticals (GWPH.US)

  • NewAge (NBEV.US)

  • Corbus Pharmaceuticals Holdings (CRBP.US)

 

Aurora Cannabis (ACB.US), a Canadian cannabis producer, soared 21% yesterday. Bulls have managed to reach 2020-highs near $18.90. Should the euphoria continue, traders may target an area at $26.70. Source: xStation5

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