Why Marijuana Stocks Popped Wednesday

Shares of leading Canadian cannabis stocks Aurora Cannabis (NYSE: ACB), Aphria Inc. (NASDAQ: APHA), and Canopy Growth (NYSE: CGC) popped in early trading Wednesday. The move followed a report by BBN Bloomberg that Aurora and Aphria had recently discussed a possible merger, but that those talks broke down last week.

Investors are snapping up marijuana stocks today anyway, though. In afternoon trading, Aurora shares are selling 3.7% higher as of 1:05 p.m. EDT, Aphria is up 4.8%, and even Canopy -- which is not involved in the buyout talks at all -- is up 3.3%.

Image source: Getty Images.

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Source Fool.com