Cannabis stocks may have had a tough time for more than a year but some of them are now making a comeback and one of the notable gainers in the sector on Thursday was the Medmen Enterprises Inc (OTC: MMNFF) stock.
While many other cannabis stocks gained yesterday following comments from Democratic senators about making marijuana reform a priority in their legislative responsibilities, the gains made by MedMen were eye-catching. The MedMen stock soared by as high as 61% after those comments and it remains to be seen if the stock can continue to add to its gains today.
In addition to that, it is also necessary to point out that the high trading volume was also a factor in the remarkable gains made by the MedMen stock yesterday. The trading volume went as large as 57 million shares on Thursday. That is much higher than the average daily trading volume of only 6.5 million shares. Investors could consider tracking the stock over the coming days.