When it comes to marijuana stocks news, Pyxus (NYSE:PYX) is gaining traction with its stock increasing.
So why exactly is Pyxus stock skyrocketing today? Well, the recent increase to the company’s stock actually has to do with some news from yesterday. It was yesterday morning when Citron released a new research note concerning the company.
The marijuana stocks news from Citron is that it is expecting great things from Pyxus. This was revealed by the research firm via the following Tweet and quickly caused the stock to increase in value.
“$PYX would not short…speculative long. Real management and tight float. The stock could double from here as long as investors are Cannabis crazy. Our favorite hire..and it wasn’t last week. https://www.linkedin.com/in/bryan-mazur/”
The bullish stance that Citron stock could double from when this Tweet was sent out on Monday morning is a positive bit of news for the company. It also helps that marijuana stocks are all the rage right now and the tobacco company is expanding its efforts in this area, reports TheStreet.com.
It looks like the increase to Pyxus stock today is just a continuation of its positive movement from Monday. The stock closed at 38.52 on Monday, which was a 36% increase over its closing price from the previous day of trading. That momentum is still around as the stock is currently up 19% as of noon Tuesday. PYX stock is also up 187% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.