- Cannabis stocks are among the most popular with millennials, according to data gathered by Markets Insider from the free-trading app Robinhood.
- Some stocks have more than doubled in popularity over the past month as their prices have soared.
- Canadian cannabis company
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Millennial investors are buying weed stocks at a faster clip than Amazon and Netflix (CRON, ACBFF, CGC, TLRY, XXII)
The popularity of weed stocks has doubled over the past month among millennial investors, and they're being bought at a faster clip than Amazon and Netflix, Robinhood data shows.
Weed stocks are exploding in popularity among young investors — in a wave that’s reminiscent of cryptocurrencies.
The news cycle in the industry has been coming at a fast and furious pace. Earlier this week, another Canadian cannabis company Tilray received approval to ship medical cannabis to the US for a study in California. Its shares have soared more than 800% since going public in July.
And then there is Aurora Cannabis, which this week announced it had held talks with Coca-Cola to make a CBD-infused drink but was unable to reach a deal. A report out Wednesday said the cannabis producer is planning to list
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suspended new buying of Aurora Cannabis on its platform due to large orders and volatility.
According to Robinhood's website, Cronos has averaged
Keep reading to see how popular some of the high-flying cannabis stocks are on the free-trading app Robinhood, and how they stack up against some of the most popular names in tech.
Cronos Group (CRON)
Market capitalization: $2.07 billion
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Number of owners on Robinhood:
Ownership growth over the last six weeks: 95.9%
In the week of March 22nd,
Data gathered by Markets Insider from public Robinhood data.
Aurora Cannabis (ACBFF)
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Market capitalization: $8.35 billion
Current Owners on Robinhood:
Ownership growth over the last six weeks: N/A. The stock did not appear on the list until the week of September 6.
Over the past two weeks, users have more than doubled from
Data gathered by Markets Insider from public Robinhood data.
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Canopy Growth (CGC)
Market Capitalization: $11.86 billion
Current Owners on Robinhood:
Ownership growth over the last six weeks: 144%
Data gathered by Markets Insider from public Robinhood data.
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Tilray (TLRY)
Market Capitalization: $11.59 billion
Current Owners on Robinhood:
Ownership growth over the last six weeks: N/A. The stock did not appear on the list until the week of August 23rd.
Tilray had a wild day after its CEO appeared on Cramer's "Mad Money" on Wednesday.
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Data gathered by Markets Insider from public Robinhood data.
22nd Century Group (XXII)
Market Capitalization: $
Current Owners on Robinhood:
Ownership growth over the last six weeks: 11%
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Compared to other companies, 22nd Century Group is a plant-biotechnology company which produces low-nicotine cigarettes.
Data gathered by Markets Insider from public Robinhood data.
Netflix (NFLX)
Market Capitalization: $
Current Owners on Robinhood:
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Ownership growth over the last six weeks: -6.1%
Data gathered by Markets Insider from public Robinhood data.
Amazon (AMZN)
Market Capitalization: $948.94 billion
Current Owners on Robinhood:
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Ownership growth over the last six weeks: 1%
Data gathered by Markets Insider from public Robinhood data.
Twitter (TWTR)
Market Capitalization: $22.65 billion
Current Owners on Robinhood:
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Growth in the last six weeks: -2.5%
Twitter has dropped two places in the ranking to the 12th position since August 16.
Data gathered by Markets Insider from public Robinhood data.
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