Marijuana stocks stealing all of the action in Canada by unprecedented volumes
Witnessing the birth of an industry is the best way to describe what’s happened in the Canadian stock market in the past couple of weeks.
The unprecedented volumes in the likes of Supreme Pharmaceuticals Inc. (CNSX:SL), Canopy Growth Corp. (TSE:CGC), Aphria Inc. (CVE:APH), and Organigram Holdings Ltd. (CVE:OGI) have triggered multiple market interventions by regulators attempting to cool the demand inflowing into marijuana stocks, all to no avail. All of these companies are trading at record highs on volume levels to match. So much so, in fact, that other issuers are starting to gripe about the effect.
“It’s all about all things marijuana,” complained one trader, who declined to be identified. “All the hot money is flying into those stocks, and so we’re kind of stuck here in neutral,” he said, referring to a non-marijuana issuer who has seen its volume decline dramatically over the...
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