For mom-and-pop investors, the options may be riskier, given that retail investors can access the marijuana market mostly through volatile Canadian stocks such as Tilray, a Canadian marijuana producer that went public in July at $17 a share. Speculators drove Tilray up to $300 in mid-September before it slumped to $140 or so on Friday. Beware this overhyped weed stock.
The Securities and Exchange Commission also issued a stern alert about marijuana stocks in early September, warning of fraud and market manipulation.
Philly locals
You can't get away from Tilray (NASDAQ:TLRY). The Canadian marijuana stock makes news when it goes up, which has happened a whole lot over the last couple of months. And it makes news when it goes down. Tilray has done a good bit of that, too, over the past few days, at one point losing over half of its market cap.
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.
Increased mergers and acquisitions among the Canadian cannabis market ahead of weed going legal next month. Motley Fool Canada Investor Analyst David Kretzmann explains the market activity and his outlook for this budding industry.
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.