Tilray fell almost 35% to $41.75 25.43% in trading Thursday. It had risen substantially in the premarket session, and its three-day gain to start the week was its biggest ever, according to Bloomberg.
Reddit, the message platform, has roiled the market for the past several weeks, as retail investors rallied around such companies as GameStop (GME) - Get Report, AMC Entertainment (AMC) - Get Report, BlackBerry (BB) - Get Report and Nokia (NOK) - Get Report.
Cantor Fitzgerald analyst Pablo Zuanic told Barron's that a lot of the activity in pot stocks "can be attributed to retail investors deciding to look for GME type opportunities in cannabis."
Sundial was the most discussed stock on WallStreetBets on Thursday, according to SwaggStocks, while Tilray and Aphria also were getting lots of mentions.
Tilray surged earlier this week after unveiling an agreement with peer Grow Pharma to import and distribute medical-cannabis products in the United Kingdom.