The charts for 3 pot stocks CGC TLRY CRON all look nearly identical for the last week or so. How does that happen? Is that because computers running algorithms are doing most the buying?
Because the whole sector is hot & new, so people don't know which specific one(s) to buy. Similar to cryptocurrencies a year ago, BTC ETH LTC etc.
I used to trade before the algos were prolific and I haven't noticed any change in regards to industries within a sector trading in sympathy, they always have. The proliferation of ETFs likely has more effect. Don't know, but I'm sure there are cannabis ETFs out there. When one stock gets hit and the ETF holders redeem their shares, the manager sells off the whole basket to maintain diversity.
