What a crazy week for cannabis stocks. Tilray began the week at $117, which was already a fairly rich valuation. It closed at $154 on Tuesday and then all hell broke loose.
These projections come in anticipation of the passing of the 2018 U.S. Farm Bill, which would fully and unambiguously legalize hemp and its extracts across the country.
The big news this past week was the $5 billion investment by alcohol company Constellation Brands (STZ) into Canopy Growth (CGC). But that wasn’t the only big deal.