Why Marijuana Stocks Canopy Growth, Tilray, and Aurora Cannabis All Rose on WednesdayPosted by On


What happened

Cannabis stock investors were clearly fired up on Wednesday, bidding up the shares of Canadian players Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY), and Aurora Cannabis (NYSE:ACB). Canopy Growth was the champ of the trio, advancing by 3.2% on the day, while both Tilray and Aurora rose by just under 3%.

So what

On Wednesday. the see-saw that is publicly traded marijuana was on an up cycle. The likely catalyst was the latest official figures from Statistics Canada. These show that cannabis sales climbed by over 5% on a month-over-month basis to hit $244.9 million Canadian ($186 million) in August — a new monthly record.

Marijuana flower with Canadian flag in the background.

Image source: Getty Images.

Better, all of the country’s 13 provinces and territories recorded increases, and not only for August — they have now notched gains for…

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