TLRY - Pot Stocks Are Wednesday's Big Stock Market Winners. Will They Disappoint Shareholders in the End?
Wednesday brought a lull for the stock market, as Wall Street consolidated its gains following extremely strong gains on Monday and Tuesday. As of just before noon EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 38 points to 30,649. The S&P 500 (SNPINDEX: ^GSPC) rose six points to 3,832, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) moved higher by 28 points to 13,640.
In general, the action in the stock market was relatively quiet. But that was definitely not the case for marijuana stocks , which posted some amazing gains. Let's look more closely at the cannabis industry and what caused investors to be so bullish on Wednesday.
The industry's leaders saw impressive gains in their share prices. Aurora Cannabis (NYSE: ACB) was higher by 8%, while Canopy Growth (NASDAQ: CGC) weighed in with a 6% gain. Cronos Group (NASDAQ: CRON) fared even better, rising 9%. Topping the list of top stocks were Tilray (NASDAQ: TLRY) , up 16%, and Aphria (NASDAQ: APHA) , climbing 15%, as the two prepare to merge.
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Pot Stocks Are Wednesday's Big Stock Market Winners. Will They Disappoint Shareholders in the End?