Stocks are an inherently social beast. The stock market itself is built of people expressing their opinions about companies. When someone buys a stock they are expressing a optimistic or bullish opinion. Conversely, a seller of stock is generally expressing a bearish or pessimistic opinion.
The name of the game on Wall Street is to find out which stocks are hot. One great tool to determine which stocks are moving is StockTwits. For instance, shares of Zynerba Pharmaceuticals (NASDAQ:ZYNE) are up big today. While shares of the company are up roughly 14% at the time of writing this, StockTwits message volume for ZYNE are up over 89%, and message sentiment is 92% bullish.
Sure, StockTwits users are not the only participants in the market, but with over 3,300 users participating in the conversation regarding Zynerba, it can be a great barometer of overall market opinion on a company or fund. For instance, the recently launched Horizons Medical Marijuana Life Sciences ETF (TSX:HMMJ) is on StockTwits with nearly 1,000 "watchers" so far.
Shares of HMMJ are up roughly 9.5% today on the TSX, while message volume on StockTwits is up over 36% and message sentiment is 98% bullish. Below you'll see a message sentiment chart for Insys Therapeutics (NASDAQ:INSY) which also has a 98% bullish sentiment for messages. Shares of Insys Therapeutics are up nearly 6.5% today.
Marijuana stocks listed on the NYSE or NASDAQ are all supported by StockTwits. This includes names like Cara Therapeutics (NASDAQ:CARA), Innovative Industrial Properties (NYSE:IIPR) GW Pharmaceuticals (NASDAQ:GWPH) and more.
For a detailed explanation regarding cannabis companies trading on these exchanges, check out our articles “Marijuana Stocks on the NYSE” and “Marijuana Stocks on the NASDAQ”, or through our exchange databases linked above.
StockTwits can be a great tool to learn more about marijuana stocks and see what other investors have to say about them. To find out more about any of the stocks mentioned, check out their profiles in our global marijuana stock database via the linked tickers above.
Did you know you can trade a lot of cannabis stocks commission-free?