TLRY - Green Gold Rush: Here's What's Driving Cannabis Stocks Higher | Benzinga
Various themes and sectors garnered buzz and attention as the first quarter drew to a close. However, one industry that has been in a lull for a significant period reignited the imagination and hope of longstanding investors after it finished the first quarter in style.
Over the previous month, several cannabis stocks have surged dramatically, igniting the sector as gains reached high double to even triple-digits in some cases. Cannabis companies like Canopy Growth (NASDAQ: CGC), Tilray (NASDAQ: TLRY), and Aurora Cannabis (NASDAQ: ACB) have experienced notable upticks in volume and price, leaving investors at a potential crossroads. Is it time to exercise some caution and take risk-off after the swift and extreme move higher, or should one dive straight into the green gold rush?
Let's examine each of the stocks mentioned above more closely and understand what drove their recent gains.
The Catalyst Behind the Breakout
So, what catalyst was behind the extreme move in the sector that seemingly awoke several cannabis stocks from their lengthy lull period? Well, there were two separate catalysts, both carrying significant momentum.
First, Vice President Kamala Harris reportedly advocated ...