Why Weed Stocks are Increasing

Why Weed Stocks are Increasing  The largest pot company by market value, Canopy Growth Corp., reported a 282% increase in quarterly revenue as marijuana became legal in Canada, but earnings were slammed by paper losses, according to a securities filing late Thursday evening.  Canopy CGC, +3.12% WEED, +2.50%  shares rose as high as 7.9% before levelling out to roughly a 3% gain in early-morning trading Friday. Canopy shares have more than doubled in the past year, as the S&P 500 index SPX, +1.09%  has gained 2%.  Canopy’s fiscal third-quarter results were being closely watched as investors sought a further look at the state of recreational cannabis sales in Canada, after rival Aurora Cannabis Inc. revealed its results earlier this week. You would have to watch very closely to find them, though: The company only released results into the Canadian securities regulator’s database late Thursday, just before a 45-day deadline elapsed.