August 20, 2018 / 5:15 PM / in 2 years

BUZZ-Weed stocks fired up: Canopy Growth, Tilray hit new highs

** Canadian cannabis cos still on a roll in wake of Corona beer maker Constellation Brands’ $4 bln infusion last week in Canopy Growth

** STZ had invested $200 mln into Canopy last year, but announcement on Weds makes its the biggest investment in the cannabis industry by far

** U.S.-listed shares of Canopy rose >10 pct to record high $37.35 on Mon. CGC has surged about 50 pct in past four sessions with Street analysts saying co is cashed-up for a run at new markets

** Tilray on Mon leaps ~18 pct to record high $36.23 vs Jul IPO price of $17. TLRY has also spiked since STZ news, aided by short-seller Citron Research report that the PE-backed medical marijuana co could be “next in line” for a white knight after Canopy

** Also on Mon, Aurora Cannabis and U.S.-listed shares of Cronos Group add >14 pct; Aphria and Green Organic Dutchman up 4-6 pct

* Horizons Marijuana Life Sciences ETF adds 7 pct and is now back above both its 50-DMA and 200-DMA for first time since Jul 13; U.S.-listed ETFMG Alternative Harvest ETF rises ~6 pct

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below