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Millennial investors are buying weed stocks at a faster clip than Amazon and Netflix (CRON, ACBFF, CGC, TLRY, XXII) – Finance – Pulselive.co.ke

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  • 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 Cronos is more popular than Amazon, Netflix, and Twitter on Robinhood.

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 its shares on a major US stock exchange next month.

These stocks have become so popular that the brokerage firm Robinhood suspended 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 grown by 95.9% over the last six weeks. Meanwhile, the online streaming giant Netflix has lost an average of 1,635 investors per week, or 6.1% of its total investors, in 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).

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)


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Cronos Group (CRON)

(Shutterstock)

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, 23,263 people owned the stock and Cronos was ranked 43rd on the list. Now it is the 11th most popular stock on the list, just above Twitter, Netflix, and Amazon.

Data gathered by Markets Insider from public Robinhood data.

Aurora Cannabis (ACBFF)


Aurora Cannabis (ACBFF)play

Aurora Cannabis (ACBFF)

(REUTERS/Leonhard Foeger)

Market capitalization: $8.35 billion

Current Owners on Robinhood: 77,248

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 34,471 to 77,248, and the stock has jumped 16 positions on the list to 20th position.

Data gathered by Markets Insider from public Robinhood data.

Canopy Growth (CGC)


Canopy Growth (CGC)play

Canopy Growth (CGC)

(Canopy Growth)

Market Capitalization: $11.86 billion

Current Owners on Robinhood: 69,521

Ownership growth over the last six weeks: 144%

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

Data gathered by Markets Insider from public Robinhood data.

Tilray (TLRY)


Tilray (TLRY)play

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Tilray (TLRY)

(Anthony Bolante/Reuters)

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 wild 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.

Data gathered by Markets Insider from public Robinhood data.

22nd Century Group (XXII)


22nd Century Group (XXII)play

22nd Century Group (XXII)

(Getty Images)

Market Capitalization: $339.67 million

Current Owners on Robinhood: 43,057

Ownership growth over the last six weeks: 11%

Compared to other companies, 22nd Century Group is a plant-biotechnology company which produces low-nicotine cigarettes. They have similar products on growing cannabis with varying levels of cannabinoids. The company has held steady as the 32nd most-owned stock on the app.

Data gathered by Markets Insider from public Robinhood data.

Netflix (NFLX)


Netflix (NFLX)play

Netflix (NFLX)

(Getty Images)

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.

Data gathered by Markets Insider from public Robinhood data.

Amazon (AMZN)


Amazon (AMZN)play

Amazon (AMZN)

(Ted S. Warren/AP)

Market Capitalization: $948.94 billion

Current Owners on Robinhood: 99,674

Ownership growth over the last six weeks: 1%

Amazon has held steady at the 14th position August 16.

Data gathered by Markets Insider from public Robinhood data.

Twitter (TWTR)


Twitter (TWTR)play

Twitter (TWTR)

(Drew Angerer/Getty Images)

Market Capitalization: $22.65 billion

Current Owners on Robinhood: 117,365

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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TENDER NO. 28/KBC/2020-2021 FENCING OF KENYA BROADCASTING CORPORATION’S PARCEL OF LAND IN NYALENDA (KISUMU). – KBC

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TENDER NO. 28/KBC/2020-2021 FENCING OF KENYA BROADCASTING CORPORATION’S PARCEL OF LAND IN NYALENDA (KISUMU). – KBC | Kenya’s Watching





















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Suluhu: Closer ties for Kenya and Tanzania

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?President Samia Suluhu’s address to Parliament was a masterclass in charm, punctuated by periodic applause and stomping of feet by Kenyan lawmakers.

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Covid-19 deaths, hospitalizations soar among youth in Americas – KBC

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Hospitalizations and deaths of younger people are surging as the COVID-19 pandemic accelerates across Latin America and the Caribbean, Pan American Health Organization (PAHO) Director Carissa Etienne said on Wednesday.

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“Adults of all ages – including young people – are becoming seriously ill. Many of them are dying,” Etienne said at her daily press briefing as quoted in a PAHO release.

In Brazil, mortality rates doubled among those younger than 39, quadrupled among those in their 40s, and tripled for those in their 50s, between December 2020 and March 2021, she said.

“For much of the pandemic, our hospitals were filled with elderly COVID patients, many of whom had pre-existing conditions that made them more susceptible to severe disease,” Etienne said. “But look around intensive care units across our region today. You’ll see they’re filled not only with elderly patients, but also with younger people.”

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Etienne urged hospitals in the region to increase the size of intensive care units (ICU) in anticipation that the trend will continue, while warning that expansion of ICUs cannot continue indefinitely.

As a result, she urged nations to double down on prevention measures such as lockdowns and facemasks.

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