Reefer Madness: Tiny Tea Stock Explodes, Fizzles Amid Marijuana Drinks Speculation [Investor's Business Daily]
DAVIDsTEA Inc. (DTEA)
Last davidstea inc. earnings: 12/7 04:01 pm
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Source: Investors Business Daily
Related news DavidsTea ( DTEA ) stock briefly exploded amid ongoing speculation over the intersection of marijuana and beverage industries. The Canada-based specialty tea retailer's small-cap stock shot up as much as 60% in morning trading before tumbling to trade lower. DavidsTea hasn't said anything specifically about cannabis-related drinks or products, but such is the mania surrounding anything that's potentially a pot stock. Marijuana stocks have a wild, wild week, notably recent IPO Tilray ( TLRY ) and New Age Beverages ( NBEV ), which is planning to launch a drink infused with CBD, a nonpsychoreactive part of marijuana. After losses in four of the past five fiscal years, a shareholder revolt earlier this year overthrew the board and spurred the CEO's exit. Founder and interim CEO Herschel Segal said the company is looking into new avenues to drive a recovery during an earnings call last week. "Following a thorough evaluation, we determined that we need to get back to the basic
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