Why Aphria Rose 46.2% in February
Canadian cannabis stock Aphria (NASDAQ: APHA) rose 46.2% in February, according to data provided by S&P Global Market Intelligence. February saw a lot of optimism around cannabis stocks, fueled in part by optimism over U.S. legalization, but also from Reddit message boards hyping up cannabis stocks, especially heavily shorted Canadian stocks that have languished over the past year.
While there wasn't much new news in February for Aphria, there was for Tilray (NASDAQ: TLRY), which was caught up in the Reddit mania prior to its earnings release in mid-February. Aphria and Tilray announced they would be merging in an all-stock deal back in December, and they're set to close the merger in the second quarter, so Tilray's movements affect Aphria's stock price.
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Source Fool.com
