When a major player in a given industry performs really well, it can often set the stage for the shares of others in the same industry to rise also. This is called a sympathy play. And it just happened in the Canadian cannabis industry.
Last Friday, Canopy Growth (NYSE: CGC) announced fiscal 2020 third-quarter results that were much better than expected. The big Canadian cannabis producer delivered positive surprises in nearly every category. Its stock immediately jumped in the double-digit percentages and is still up 11% over the last three trading days.
But there are also other big winners. Here are three marijuana stocks that road Canopy's Q3 earnings coattails and just might rise even higher.