Tilray wins hands down in terms of stock price momentum. Over the last month, Tilray's share price has nearly quadrupled. Cronos Group and Canopy Growth have come close to doubling during the same period. Shares of Scotts Miracle-Gro, on the other hand, are down slightly.
Trading volume provides another hint about the enthusiasm for a stock. Cronos Group takes the prize on this front. The 30-day average daily volume for Cronos has skyrocketed to more than 15 million shares. Canopy Growth's trading volume has also soared to a 30-day average daily volume of around 10 million shares. Tilray comes in third place with around half the average volume of Canopy. Scotts Miracle-Gro again ranks the lowest of the group.
Wall Street's favorite
It would make sense that Wall Street's favorite marijuana stock would be Canopy Growth. After all, the company claims the highest market cap by far of any marijuana stock. Canopy secured a $4 billion investment from major alcoholic beverage maker Constellation Brands, which is viewed positively by seven of the 12 analysts covering the stock.
But Wall Street analysts appear to be even more bullish on Tilray. Even though Canopy scored the big deal with Constellation, it's actually Tilray that has delivered the better stock performance. I think Tilray, at least for now, ranks as the marijuana stock that Wall Street likes the most.