Weed stocks have been trading higher in the last couple of days with AdvisorShares Pure Cannabis ETF (ARCA: YOLO) currently up 11.94%, AdvisorShares Trust AdvisorShares Pure US Cannabis ETF (ARCA: MSOS) jumping 11.99%, and ETFMG U.S. Alternative Harvest ETF (ARCA: MJUS) also gaining 9.63%.
Why have cannabis stocks been trading higher for the week?
The increase could have been sparked by the news that GOP lawmakers introduced their own cannabis legalization bill, which has led many to think that this could a step closer to federal reform. Or maybe they are up because earnings report season is underway with financial reports from various marijuana giants.
In any case, we decided to take a look at two favorite weed stocks on the major exchanges in the United States.
Aurora Cannabis (NASDAQ: ACB) operates medical cannabis, consumer cannabis and hemp-derived CBD sectors. Being one of the largest cannabis companies in the world, it has a global footprint spanning 25 countries across five continents. Its market cap is at $1.32 billion.
The current production capacity is around 150,000 kilograms of marijuana biomass annually.
In the recent period, the company has been focusing on the medical cannabis market in Europe.
Tilray (NASDAQ: TLRY) was the first pure-play marijuana company to list on NASDAQ back in 2018, reaching an eightfold within just two months of going public. It was founded in 2013, and some three years later it became the first medical cannabis producer in the U.S. to obtain a good manufacturing practices certification.
In May of this year, Tilray acquired another large cannabis operator – Aphria, giving it a market cap of $5.73 billion. At the time of the merger, the combined company was projected to generate roughly $81 million in annual pre-tax cost synergies within the following eighteen months.
Tilray has operations in Canada, the U.S., Europe, Australia and Latin America; its 20 brands …