Shares of Nasdaq-listed cannabis companies such as Tilray Inc. (NASDAQ:TLRY), Sundial Growers Inc. (NASDAQ:SNDL) and Aurora Cannabis Inc. (NASDAQ:ACB) have emerged as favorites of retail investors this year and continue to trend on Reddit’s r/WallStreetBets forum, which has 10.6 million members and is known for short squeezes…
Here’s a comparative take on which retail-favorite cannabis stock gave the best returns in the first half of 2021.
Year-To-Date Returns: Tilray’s stock has returned year-to-date gains of 118.9%, while Sundial’s year-to-date returns stand at 100.2%. Aurora Cannabis stock’s year-to-date returns of 8.78% pale in comparison to both.
Shares of Tilray, Sundial Growers and Aurora Cannabis — all Reddit favorites — peaked in February amid heightened retail interest, but have fallen notably since then.
Tilray shares hit a new 52-week high of $67.00 and Aurora Cannabis touched a high of $18.98 on Feb. 10, while Sundial shares reached a 52-week high of $3.96 a day later.
Nevertheless, optimism that cannabis reforms will make it easier for the companies to do business has led to a renewed retail-investor interest in these stocks.
Capital Raising: Taking advantage of the investor interest, Sundial said in January it is raising $100 million through a sale of stock and warrants.
Aurora Cannabis said in May it is seeking to…
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