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Aurora Cannabis (ACB) - Get Aurora Cannabis Inc. Report is the perfect example of a momentum stock for the social media era.

The Canadian cannabis stock swung strongly to the upside on Tuesday, gaining more than 10% on the day after being named a top pick by Cowen analyst Vivien Azer.

The note from Azer outlines a strong thesis of recreational market share strength and possible benefits from a still expanding Canadian cannabis market.

However, the stock has moved by 5% or more to the up or downside 10 times so far in 2019, suggesting that violent moves to either side are not as peculiar as they might be for other stocks.

Yet the moves are not always related to major tangible news, as the company's earnings releases dating back to May 2017 have not yet yielded a rise or fall in share value eclipsing 5%.

The headline swings on the stock are far more closely related to its popularity among social media users. According to data compiled by Bloomberg, social media postings about Aurora Cannabis more than quadrupled in morning hours as the stock climbed over 10%.

The best example of the wild swings in the stock largely on rumors and social media popularity is the rapid run ACB made through September and October 2018, as the idea that Coca-Cola (KO) - Get Coca-Cola Company (The) Report could bid for the bud-grower abounded.

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The correlation in Twitter (TWTR) - Get Twitter Inc. Report  volume and stock price is also intriguing given social media users also happen to be weighted toward millennials.

According to Pew Research, millennials are far more liberally minded on marijuana legalization than older populations, suggesting they are the most inclined to speculate on volatile cannabis stocks. Aurora could be the key beneficiary of this correlation, as it is also the most popular stock on the popular investing app Robin Hood, a low-cost investing app that targets this same segment of the population.

The low cost of the stock, at under $10, makes it an attractive pick for the more frugal millennial investors as well (ACB is a holding in TheStreet's Stocks Under $10 portfolio). That price level leaves it ripe for bargain hunters and likely contributes to the wide swings in trading volume. Further, it is just over 10% owned by institutions, amplifying the effect of fickle retail investors.

So, while the company does have a great deal going for it, including a global footprint, large cultivation capabilities, and a dominant domestic market share, the stock implication seems to be significantly driven by a social media rumor mill.

For the gossip on companies that might consider backing Aurora with investments, in the same fashion that the Constellation Brands (STZ) - Get Constellation Brands Inc. Report bought into Canopy Growth Corp.  (CGC) - Get Canopy Growth Corporation Report and Altria (MO) - Get Altria Group Inc. Report took a stake in Cronos (CRON) - Get Cronos Group Inc. Report , click here for Real Money's breakdown.

Aurora Cannabis a holding in TheStreet's Stocks Under $10 portfolio, Click here to learn more about this portfolio, trading ideas and market commentary product.

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