GameStop a hard act to follow for cannabis-focused Reddit investors
Reddit forums focus on sector’s biggest players, nicknamed Gang Weed, but their rally has already been driven by small investors
12 February 2021 - 09:01
North American cannabis companies rocketed in value in recent days — before plunging on Thursday — as the Reddit forums behind a month of frenzied stock market trading stoked interest in a sector booming on the back of expectations of decriminalisation.
However, the investment case for the sector’s biggest players, nicknamed Gang Weed by Reddit’s WallStreetBets community, differs substantially from that of GameStop — or “Gamestonk” as it was dubbed by many online — and from other retailers involved in the past month’s surges...
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