WeedStonk! WallStreetBets Traders Spark Swift Rally And Crash In Cannabis Stocks

By Will Yakowicz

What goes together better than video games and weed? After a wild ride with GameStop, day traders on Reddit forum WallStreetBets turned their focus to cannabis stocks this week.

In a matter of days, the stock prices of Canadian cannabis producers listed in the U.S. shot up by hundreds of percentage points—market movements fueled by social media hype and hope that the Biden Administration will legalize marijuana. Yet, a steep reversal came Thursday as traders cashed in on gains.

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