CNN BUSINESS | This cannabis stock is a new Reddit favorite

New York (CNN Business) – Cannabis company Tilray, which recently merged with rival Aphria, has seen its stock surge as of late thanks to — you guessed it — love from the Reddit crowd.

As backers tout the growing number of states legalizing recreational and medical marijuana, some investors are holding out for the dream scenario of federal legalization — even though that might be a stretch in the near term.

But are investors going a little crazy? Tilray (TLRY) is now up more than 130% this year. That’s much higher than the gains for rivals Canopy Growth (CGC) and Cronos (CRON), which have the backing of consumer products giants Constellation Brands (STZ) and Altria (MO), respectively.  –read more—