Post by
bligicka on May 09, 2021 8:46am
Friday began on a high note for marijuana stocks, as investm
Friday began on a high note formarijuana stocks, as investment bank Jefferies announced it was turning around its opinion ofTilray(NASDAQ:TLRY)stock 180 degrees, upgrading the shares from underperform all the way to buy. Tilray stock responded as you'd expect, surging 17% in morning trading, but other marijuana stocks are responding positively as well. As of 11 a.m. EDT,Canopy Growth(NASDAQ:CGC)stock is up a strong 6%,HEXO(NYSE:HEXO)is even better at 7%, andAurora Cannabis(NYSE:ACB)is best of all with a 7.5% gain. But why is good news for Tilray good news for these rival cannabis companies, too?