Tilray couldn’t stay down for long.

The cannabis company that has lost about US$200 per share from the intraday peak of last week’s wild ride climbed in early trading Tuesday, leading gains among pot peers and setting the stock up to break its longest losing streak since its July IPO. Tilray's stock (TLRY.O) gained 8.42 per cent - or US$8.38 - to close at US$107.88.

It’s not the only positive news in the sector Tuesday. Canopy Growth Corp. (WEED.TO), which briefly yielded its title as the biggest cannabis company to Tilray last week, won a new bull with a a buy rating and US$100 Street-high price target from Benchmark. The firm cited its "early leadership in the medical cannabis market in Canada", upcoming legalization in Canada and an investment from Constellation Brands (STZ.N) as the basis for the call. Canopy’s TSX-listed shares rose slightly to close 0.44 per cent - or 30 cents - higher at $68.25, while peer Cronos Group finished the day in the red, closing 1.76 per cent - or 27 cents - lower at $15.03.

Aurora Cannabis also reported a jump in its fourth-quarter revenue, more than tripling its revenue a year ago. The Canadian stock has gained 130 per cent since the marijuana mania began and is already looking forward to a U.S. listing. As it prepares for the Canada’s legalization of pot next month, the company plans to increase production to match the rising demand, expecting revenue growth to not only continue but accelerate.

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