Jim Cramer’s pick
On January 8, Jim Cramer made his pick in the cannabis industry (HMMJ). He chose Canopy Growth (WEED) (CGC) over Tilray (TLRY). Cramer’s dislike for Tilray is due to the company’s weak capital position compared to Canopy Growth. Cramer said, “I say [sell] to Tilray and [buy] to Canopy.”
On January 4, Cramer spoke in favor of Canopy Growth due to investment backing from Constellation Brands. On January 4, Cramer said that he didn’t mean to tell people to “go buy” the stock—unlike his note on January 8. Cramer meant that Canopy Growth is “the one.” Read Jim Cramer Reiterates His Stance on Canopy Growth as ‘The One’ to learn more.
Despite Cramer’s remark, Tilray rose nearly 16% on January 8. Aphria (APHA), Aurora Cannabis (ACB), and Cronos Group (CRON) ended in the negative territory on the same day. Tilray got a boost from the “outperform” rating from Cowen and Company early in the morning.
So far, 2019 has been positive for cannabis stocks after a disappointing December.
To learn more, read Aphria Thinks the US Cannabis Market Could Hit $50 Billion.