OGI - Reddit chatter pushes cannabis stocks higher
Cannabis stocks are surging this morning as the Reddit forum WallStreetBets turns it attention to the sector.One WSB user wrote that Tilray (TLRY) and Aphria (APHA), which are up 80% and 61%, respectively, in the past 5 days, still have more room to run, Reuters reported.Canopy Growth (CGC) shares are up 6% premarket following a bullish note from Benchmark's Mark Hickey who wrote "revenue growth should be significant in Canada over the next several quarters."Not all analysts feel strongly about Canopy as Stifel analyst W. Andrew Carter mains his sell rating as the company's "revenue growth targets will prove ambitious."Carter, however, raised his price target to C$21 from C$18.Here's how some other pot stocks are performing premarket:Pot stocks are higher this morning: Aurora Cannabis (ACB) +13.9%; Hexo (HEXO) +10.7%; Tilray (TLRY) +23.4%; Canopy Growth (CGC) +6%; Cronos Group (CRON) +11.3%; OrganiGram Holdings (OGI) +31.4%, and AdvisorShares Pure Cannabis ETF (YOLO) +8.3%.
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Reddit chatter pushes cannabis stocks higher