Reddit Driven Cannabis Stocks Rally Ends in Profit Taking
Reddit-driven cannabis stocks rally ended last week in the most expected way because investors rush to capitalize on massive gains by selling their positions. This is exactly what happens with retail stocks a few weeks ago when Reddit day traders pushed GameStop (NYSE: GME) and other stocks thousands of times higher in a couple of days and then these stocks nosedived after investors started taking profits.
Cannabis Stocks Popping on US legalization, Rosy Outlook
North American cannabis index, which tracks the performance of top US and Canadian cannabis stocks, surged to the highest level in the last eighteen months – driven purely by strengthening fundamentals and aggressive M&A activities in the emerging sector.