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Luke Kawa

Pot stocks off to a flying start in 2025

Pot stocks are screaming higher in the first trading day of 2025.

Canopy Growth and Tilray are leading the upside, with SNDL Inc. and Cronos Group also gaining.

For the cohort, far more bullish options are changing hands compared to bearish ones. Canopy, for instance, is seeing more than 55 calls trade for every put (versus a 20-day average of 4-to-1) as of 9:45 a.m.

Cannabis stocks had a rough 2024 even as more Americans than ever enjoyed a toke (or edible).

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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