Analysts at investment bank Wells Fargo initiated coverage across the sector, warning of overvaluation among marijuana companies and suggesting investors turn their attention to hydroponics suppliers instead -- but marijuana stocks leapt higher anyway. As of 12:35 p.m. ET, shares of Tilray (NASDAQ: TLRY) are gaining 4.6%, and both Aurora Cannabis (NASDAQ: ACB) and Canopy Growth (NASDAQ: CGC) are up 7.1% each. The focus of Wells Fargo's ire this morning is the last company on that list -- Canopy Growth.
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