MILAN, Feb 11 (Reuters) – Cannabis stocks were among the most traded by German retail investors on Thursday, signalling that a buying frenzy that has lit up the sector was spreading beyond its American home base.<\/p>\n
Tilray was the most traded stock on German trading platform Lang & Schwarz with over 2 million euros ($2.4 million) in turnover changing hands by 0927 GMT, well ahead of the local heavyweights Volkswagen and Deutsche Bank .<\/p>\n
Other pot stocks Sundial Growers and Aurora Cannabis also featured among the buzzy stocks on the platform, reflecting high interest from retail investors, traders said.<\/p>\n
\u201cIt\u2019s the Reddit army and friends,\u201d said Stefan de Schutter, portfolio manager and Alpha Trading in Frankfurt.<\/p>\n
Interest in those stocks got a big boost this week after users on the popular WallStreetBets forum on Reddit turned their focus on the sector on expectations of lighter regulation under U.S. president Joe Biden\u2019s administration.<\/p>\n
Shares of Tilray jumped more than 50% on Wall Street on Wednesday, while in Toronto Sundial and Aurora jumped 78% and 21% respectively.<\/p>\n
Swaggystocks, which aggregates sentiment on shares talked about in the WallStreetBets forum, showed Sundial and Tilray were most upvoted, or highly touted, stocks in the group which has around 8 million participants.<\/p>\n
Frankfurt-listed Tilray and Sundial shares were up 23% and 54% respectively.<\/p>\n