Marijuana Stocks: Citron Fails to Kill Buzz – Investopedia

The pot stock rally shows little sign of easing, despite calls from several prominent investors to short-sell some of the sector’s biggest risers.

On Tuesday, the share prices of some of the industry’s biggest names continued to soar to new highs, either off the back of fresh announcements or the ongoing excitement surrounding speculation that liquor producers are interested in selling pot ahead of the legalization of cannabis for recreational use in Canada. During the day, The Green Organic Dutchman Holdings Ltd. (TGOD), Tilray Inc. (TLRY), Canopy Growth Corp. (CGC) and Cronos Group Inc. (CRON) rose 25.44%, 18.11%, 15.41% and 14.36%, respectively.

Citron Research’s Short-Selling Advice Overlooked

Sentiment in Cronos received a much-needed boost, following reports that it had entered into a partnership with Ginkgo Bioworks to develop lab-grown cannabis. Just several days earlier, the Canadian pot grower’s shares plunged 28% after Citron Research urged investors to bet against the stock.

Citron’s attempts to convince its clients to short-sell another high-flyer, Tilray, encountered even more resistance. The maker of medicines derived from cannabis, which was also recently described as overvalued by cannabis investor Jason Spatafora, shrugged off Citron’s note, ending the day up over 18%, despite no obvious new developments. (See also: Pot Stocks at Bitcoin Levels, Go Short Tilray: Jason Spatafora.)

Citron LOVED $TLRY at $26 but now we are SHORTING stock. Cowen lowered est and still raised tgt $62 only shows “RETAIL INVESTORS GONE MAD” and forgot $TLRY went public at $17 – 6 weeks ago. We would expect an equity raise at these levels. By far most expensive in space.

— Citron Research (@CitronResearch) September 4, 2018

Canopy Growth was also among the top risers during yesterday’s trading. The shares, which have been on a tear since Constellation Brands Inc. (STZ.B) announced a massive $4 billion deal last month to increase its ownership

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