Reefer madness has gripped Wall Street.
Investors are craving marijuana stocks as Canada prepares to legalize cannabis in October 2018, leading to giant gains for Canada-based companies listed on U.S. exchanges. Some experts are concerned that the ending will be a buzzkill.
Shares of Canadian cannabis producer Tilray posted their second-best day ever after the company announced approval from the Drug Enforcement Administration to import marijuana to the United States for medical research.
The company's U.S.-listed shares jumped 28.9 percent Tuesday with 19 million of the company's 21.7 million floating shares exchanging hands. Shares are up over 400 percent in the past month.