Tilray, Canopy Growth Options Traders Place Their Bets

Cannabis stocks tend to hibernate during the summer and giants Canopy Growth Corporation (NASDAQ: CGC) and Tilray, Inc. (NASDAQ: TLRY) have lulled into a sleepy sideways action.

The sideways action came after a months-long downtrend after Canopy Growth and Tilray climbed in unison and reached highs of $56.50 and $67, respectively, on Feb. 10. Both stocks then found their bottom on May 13 and have since traded in tight ranges on low volume.

On Wednesday both stocks dropped again, trading down around 4% intraday. Canopy Growth and Tilray may be about to reverse the trend, however, as both fell into :

Changes: On Wednesday, the FBI updated its policy for new employees. The agency will now consider candidates who have not used cannabis within the year before their application. Previously the FBI required candidates to have not used cannabis within the three years prior to their applying or employment.

Despite news of the FBI’s policy change, Canopy …

Full story available on Benzinga.com

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