Millennial investors are buying weed stocks at a faster clip than Amazon and Netflix by Varada Bhat on Sep 20, 2018, 4:00 PM Advertisement
 - Cannabis stocks are among the most popular with millennials, according to data gathered by Markets Insider from the free-trading app Robinhood.
- Some stocks have more than doubled in popularity over the past month as their prices have soared.
- Canadian cannabis company Cronos is more popular than Amazon, Netflix, and Twitter on Robinhood.
Weed stocks are exploding in popularity among young investors — in a wave that’s reminiscent of cryptocurrencies. The news cycle in the industry has been coming at a fast and furious pace. Earlier this week, another Canadian cannabis company Tilray received approval to ship medical cannabis to the US for a study in California. Its shares have soared more than 800% since going public in July. And then there is Aurora Cannabis, which this week announced it had held talks with Coca-Cola to make a CBD-infused drink but was unable to reach a deal. A report out Wednesday said the cannabis producer is planning to list its shares on a major US stock exchange next month. These stocks have become so popular that the brokerage firm Robinhood suspended new buying of Aurora Cannabis on its platform due to large orders and volatility. According to Robinhood's website, Cronos has averaged 10,335 new investors per week and its ownership has grown by 95.9% over the last six weeks. Meanwhile, the online streaming giant Netflix has lost an average of 1,635 investors per week, or 6.1% of its total investors, in the same time period. Cronos is now the 11th most popular stock on the list with 122,122 total investors, just above Twitter (117,365), Netflix (108,475 ), and Amazon (99,674). Keep reading to see how popular some of the high-flying cannabis stocks are on the free-trading app Robinhood, and how they stack up against some of the most popular names in tech. Cronos Group (CRON)  Market capitalization: $2.07 billion Number of owners on Robinhood: 122,122 Ownership growth over the last six weeks: 95.9% In the week of March 22nd, 23,263 people owned the stock and Cronos was ranked 43rd on the list. Now it is the 11th most popular stock on the list, just above Twitter, Netflix, and Amazon. Data gathered by Markets Insider from public Robinhood data.
Aurora Cannabis (ACBFF)  Market capitalization: $8.35 billion Current Owners on Robinhood: 77,248 Ownership growth over the last six weeks: N/A. The stock did not appear on the list until the week of September 6. Over the past two weeks, users have more than doubled from 34,471 to 77,248, and the stock has jumped 16 positions on the list to 20th position. Data gathered by Markets Insider from public Robinhood data.
Canopy Growth (CGC)  Market Capitalization: $11.86 billion Current Owners on Robinhood: 69,521 Ownership growth over the last six weeks: 144% The stock has jumped from the 96th position to 23rd position, just below payment company Square, led by Jack Dorsey, who also serves as CEO of Twitter. Data gathered by Markets Insider from public Robinhood data.
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