Cannabis stocks fell sharply across the board on Thursday, with many of the top-performing players in the industry losing those gains the day before. Tilray Inc. TLRY,
was last down 40%, while Aphria Inc. APHA,
HERE,
with which it merges, decreased by 27%. The stock and other cannabis names were targeted by the same group of investors in a Reddit subgroup that caused the shares of video game retailer GameStop Inc. GME,
to climb to dizzying heights in recent weeks. Those investors encouraged each other on Wednesday to make Tilray the new GameStop by creating a short pressure on the shares. Participants in the Reddit group, dubbed Wallstreetbets, complained about the turnaround on Thursday, with some suggesting selling cannabis stocks and using the money to buy shares of dating app Bumble Inc. BMBL to buy,
who made his stock market debut. The Cannabis ETF THCX,
was down 15.5%.