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Binance

Forget cryptocurrencies.

The irrational exuberance found within the marijuana sector has hit extraordinary levels. So much so that Robinhood, a leading commission-free trading app that is most popular among millennials, is reportedly struggling to keep up with the demand for marijuana stocks.

On Wednesday, Robinhood was forced to suspend trading for Aurora Cannabis (ACBFF), a leading marijuana company that is reportedly in discussions with Coca-Cola (KO) to develop a cannabis-infused beverage.

“This is happening because there’s limited support at execution venues for the large volume of ACBFF orders we’ve received,” Robinhold told the more than 81,000 investors who hold Aurora Cannabis shares through the app.

The news came the same day as shares of Tilray (TLRY), a Canadian marijuana producer, jumped nearly 40%, bringing the company to a market capitalization¬†of $20 billion. The stock’s valuation is up nearly 10x since it was listed for trading on the Nasdaq back in July.

As many of the top marijuana stocks continue to post massive gains week over week, notable short-selling investors are beginning to become more vocal in what they see as a massive opportunity to take advantage of an irrational market action.

Perhaps the most prominent being Andrew Left, a leading activist short-seller who runs Citron Research, who sees the run-up in these stocks as being caused by nothing more than low floats and artificial demand that will give out eventually.

It is clear, for the time being, that marijuana stocks have taken the spotlight away from the equally speculative digital asset class.

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Robinhood now offers 6 different cryptocurrencies for its users and recently announced the addition of over 250 global stocks, in addition to free extended market hours.

More: Weed stocks have become so popular that Robinhood is having trouble executing trades for one of the most-popular names
Related: Robinhood Releases Several New Investment Research and Trading Tools

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Voyager

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