Chances are, all you have heard about the last couple of weeks has been the short squeeze of Gamestop’s stock. A couple million retail investors with Robin Hood-esque demeanor set out to reverse the odds for the little guys. Now, they’ve sniffed out a much more pungent green and have put their sights on cannabis stocks.
Canopy Growth, Tilray, Aphria, Aurora Cannabis, and The Cronos Group are among those seeing immense gains. Tilray and Aphria announced their merger at the end of 2020 and saw some hype around it but nothing to this extent. Tilray was up almost 30% in just one day. Historically, it takes longer for short-squeeze stock prices to decline after initial growth.
It’s hard to say what aftereffects these short squeezes could have on a company. We’ll be following each of the aforementioned cannabis stocks to see which can hold its gains the longest and for what possible reasons that may be. Make sure you are subscribed to the Cannabis Patent Forecast® for the latest in cannabis patent and market news and insights. Start your free trial today!
Cannabis is now legally being used to treat a wide variety of medical conditions, including chronic pain, alcoholism, anxiety, nausea (from chemotherapy) and epilepsy.