Tilray Inc. (NASDAQ:TLRY) and
Sundial Growers Inc. (NASDAQ:SNDL) recorded double-digit gains in Wednesday’s regular trading session amid high retail-investor interest in the two Canada-based cannabis companies.
What Happened: Shares of Tilray gained 11.9% and Sundial Growers’ shares rose 13% in Wednesday’s trading after e-commerce giant
Amazon.com Inc. (NASDAQ:AMZN) said it supports the federal legalization of marijuana and will drop marijuana-testing requirements for some of its workers.
Optimism that cannabis reforms will make it easier for companies to do business also boosted these stocks.
Both the companies are now seeing renewed interest from retail investors. Tilray was the fourth-most mentioned stock on Reddit’s r/WallStreetBets forum over the past 24 hours with 739 mentions, while Sundial was at the seventh position with 546 mentions, data from Quiver Quantitative showed.
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A Fool since 2010, and a graduate from UC San Diego with a B.A. in Economics, Sean specializes in the healthcare sector and investment planning. You ll often find him writing about Obamacare, marijuana, drug and device development, Social Security, taxes, retirement issues and general macroeconomic topics of interest. Follow @TMFUltraLong
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