Investors Embrace Pot Stocks as Marijuana Continues to go Mainstream — High Times

Aurora Cannabis targeting October for U.S. stock listing

Aurora Cannabis targeting October for U.S. stock listing

Tilray's moves have been wackier than anything Harold and Kumar experienced on their trip to White Castle or Seth Rogen and James Franco's adventures in "Pineapple Express".

The company's shares have jumped by as much as 1,600 per cent since it began trading on the NASDAQ exchange in July. Tilray had just $20 million in revenue a year ago, but with a market valuation of about $16 billion, it's now more valuable than Tiffany. The company had $20 million in sales in 2017, but it's now worth considerably more than Macy's or Hasbro.

Reefer Madness has gripped Wall Street.

Pharmaceutical companies have to start thinking about partnering with cannabis companies as a "hedge" against the burgeoning marijuana industry, Tilray TLRY CEO Brendan Kennedy told CNBC on Tuesday. So it might make sense for pharmaceutical firms to invest in cannabis.

The drastic swings in the stock follow a almost 30 per cent jump on Tuesday after the Nanaimo, B.C. - based firm announced it got the green light from the U.S. Drug Enforcement Administration to export cannabis in capsule form to a researcher at a university in the U.S., where the drug is still illegal at the federal level.

The drug will be used in a clinical trial at the University of California San Diego for the treatment of essential tremor, a neurological disorder.

Shares of other marijuana-related stocks also rose, with Cronos Group Inc (CRON.O) up 24.827 percent.

Gamers alert! Spider-Man PS4 smashes records like a boss!
The open-world NY city gameplay in the new game features plenty of Marvel easter eggs and real-life landmarks. Uncharted 4: A Thief's End held the record before that, with 2.7 million copies sold in the first week.

Legalization in Canada coming, but is the rally nearly over?

And on Monday, Aurora Cannabis soared more than 15% following a Bloomberg report suggesting the cannabis producer was in talks with Coca-Cola to develop beverages infused with CBD. He also noted that the company has set its sights on America, with Canada acting only as a stepping stone to the massive market south of the border.

But some experts worry that marijuana mania is another bubble in the making, just like dotcoms in the late 1990s, financial stocks in 2008 and bitcoin earlier this year. ETFs like this one have been hailed as being some of he most important stocks in the space given that they one; present a large amount of opportunity to investors who want exposure to the whole of the market.

"It left a sea of bodies, both longs and shorts, behind in its wake", Dave Lutz, managing director at JonesTrading, said by phone.

Even pot industry bulls are getting nervous.

It's easy to see why investors are so optimistic. Tapman calls it a "classic case of FOMO - the fear of missing out".

While cannabis is legalized in several states for recreational and medical use, it remains a Schedule 1 drug under US federal law. The fund is also comprised of numerous top biotech companies in the space which means that as new medicines are able to be made, the ETF can continue to reflect upon them. "But the projections are delusional".

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