{"id":28044,"date":"2018-10-17T11:43:54","date_gmt":"2018-10-17T16:43:54","guid":{"rendered":"https:\/\/insights.tradestation.com\/?p=28044"},"modified":"2019-02-20T22:17:10","modified_gmt":"2019-02-21T03:17:10","slug":"traders-toking-profits-as-a-red-hot-space-gets-smoked","status":"publish","type":"post","link":"https:\/\/www.tradestation.com\/insights\/2018\/10\/17\/traders-toking-profits-as-a-red-hot-space-gets-smoked\/","title":{"rendered":"Traders Toking Profits as a Red-Hot Space Gets Smoked"},"content":{"rendered":"
Buy the rumor, sell the news. The old adage is playing out today as weed goes legal in Canada.<\/p>\n
Cannabis stocks have been pretty much the hottest group in the entire market of late, with companies like Tilray (TLRY), New Age Beverages (NBEV) and India Globalization Capital (IGC) up several hundred percent in the last three months.<\/p>\n
Others, like Canopy Growth (CGC) and Cronos (CRON), have drifted recently after more than doubling earlier in the year. But today they have one thing in common: They’re getting smoked as traders toke profits on those big rallies.<\/p>\n
In other words, traders bought the rumor and now they seem to be selling the news.<\/p>\n