The move could be due to one or more of the following possibilities:
- Renewed interest in the cannabis sector: A couple of the larger Canadian cannabis companies have seen increased bullish volume and higher prices over the past couple of days. OrganiGram Holdings Inc (NASDAQ: OGI) and Hexo Corp. (NYSE: HEXO) rose 3.3% and 2.9%, respectively, on Wednesday.
- Relationship to meme stocks: GameStop Corp. (NYSE: GME) and AMC Entertainment Holdings Inc (NYSE: AMC) have surged this week. In January, GameStop and AMC were targeted for an epic short squeeze, with a parabolic rise and fall that began on Jan. 22 and ended on Feb. 2.
- Tilray was next on the list …