Why Sundial Growers, Aurora Cannabis, and OrganiGram Holdings Stocks Rose Today

The cannabis sector got a boost last week when Amazon (NASDAQ: AMZN) said it backs federal legislation in the U.S. to legalize marijuana. Canadian companies with aspirations to grow in a legal U.S. market also benefited. Some of these names have been moving thanks to interest from retail traders on social media, and it can be hard to tell whether or not they trade more on the potential for business fundamentals. Today, the direction is up, and three Canadian names are moving as follows as of 12:45 p.m. EDT:

Moves in these stocks can be attributed to retail traders by looking at different metrics. Besides having no company-specific news, sharp jumps in the 30-day average daily trading volume are a good clue. That recent bump has occurred in Sundial and Aurora shares.