Millenials go frantic over weed stocks while tech giants suffer a popularity loss   

21 September 2018 : With the legalizing of weed in Canada, the popularity of weed stocks are increasing exponentially as millennial investors are buying weed stocks at a faster clip than Amazon and Netflix according to Robinhood data ( a popular stock brokerage firm). Cannabis stocks have become so popular amongst the millennials that the Canadian company Cronos is now more popular than Amazon, Netflix, and Twitter.


This sudden surge in the popularity wave of weed stocks amongst the millennials is quite similar to the cryptocurrency madness that engulfed the young investors a while back


Earlier this week, another Canadian cannabis company Tilray which just went public in July’18, saw its share price skyrocket to more than 800% after it received the approval to ship medical cannabis to US for a study in California.


On the other hand, Aurora Cannabis, which came into limelight after the announcement that it was planning to partner with Coca-Cola to make a CBD-infused drink but was unable to reach a deal. Further more, there is news that the company plans to list its shares on a major US stock exchange next month.


These stocks have become so fanatically popular that the brokerage firm Robinhood adjourned new buying of Aurora Cannabis on its platform due to large orders and volatility.


According to Robinhood's website, Cronos has averaged 10,335 new investors per week and its ownership has risen by 95.9% over the last six weeks. 


Meanwhile, the online streaming mammoth Netflix has lost an average of 1,635 investors per week, or 6.1% of its total investors, during the same time period. Cronos is now the 11th most popular stock on the list with 122,122 total investors, just above Twitter (117,365), Netflix (108,475 ), and Amazon (99,674).


This is how the stratosphere touching cannabis stocks are faring against the Tech giants.


Cronos Group (CRON)


Market capitalization: $2.07 billion

Number of owners on Robinhood: 122,122

Ownership growth over the last six weeks: 95.9%


In the week of March 22nd, Merely, 23 K people owned the stock and Cronos was ranked 43rd on the list, and now it has skyrocketed to the 11th most popular stock on the list, just above Twitter, Netflix, and Amazon.


Aurora Cannabis (ACBFF)


Market capitalization: $8.35 billion

Current Owners on Robinhood: 77,248

Ownership growth over the last six weeks: N/A. 


The stock did not even appear on the list until the week of September 6.

Over the past two weeks, users have more than doubled from 34 K to 77 K and the stock has leaped 16 positions on the list to make it to the 20th position.


Canopy Growth (CGC)


Market Capitalization: $11.86 billion

Current Owners on Robinhood: 69,521

Ownership growth over the last six weeks: 144%


The stock leapfrogged from the 96th position to 23rd position, interestingly just below payment company Square, led by Jack Dorsey, who also serves as CEO of Twitter.


Tilray (TLRY)


Market Capitalization: $11.59 billion

Current Owners on Robinhood: 35,280

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 frantic day after its CEO Brendan Kennedy appeared on Cramer's " Mad Money" on Wednesday. The stock has jumped from 81st on Robinhood's top 100 list in August to 39th.


22nd Century Group (XXII)


Market Capitalization: $339.67 million

Current Owners on Robinhood: 43,057

Ownership growth over the last six weeks: 11%

22nd Century Group is basically a plant-biotechnology company which produces low-nicotine cigarettes. They own similar products on growing cannabis with different levels of cannabinoids. The company has been quite consistent as the 32nd most-owned stock on the app.


Coming to the Tech Giants


Netflix (NFLX)


Market Capitalization: $159.14 billion

Current Owners on Robinhood: 108,475

Ownership growth over the last six weeks: -6.1%


The streaming giant has lost on an average 1,635 Robinhood investors per week since August 16.


AMAZON ( AMZN)


Market Capitalization: $948.94 billion

Current Owners on Robinhood: 99,674

Ownership growth over the last six weeks: 1%


Amazon has been pretty steady at the 14th position since August 16.


Twitter (TWTR)


Market Capitalization: $22.65 billion

Current Owners on Robinhood: 117,365

Growth in the last six weeks: -2.5%


Unfortunately, Twitter has fallen by two places in the ranking to the 12th position since August 16.


Reporting for EasyKobo on Friday , 21 September 2018 in Lagos, Nigeria


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