After soaring to all-time highs last month, exchange traded funds tracking cannabis stocks are coming back down to test a key support line…
And if they find support and stage a solid rebound off the 10-week moving average, that could set up a chance for investors to buy or add shares. But keep in mind: Market risk is high right now.
AdvisorShares Pure Cannabis (YOLO) is an actively managed ETF launched in April 2019. The $425.8 million fund invests in marijuana stocks across a wide range of industries, such as agriculture, biotech, pharmaceuticals, real estate and retail.
At the end of February, the U.S. accounted for about 61% of total assets. Canada weighed in at 29% and the U.K. 6%. Cash and a small position in Israel made up the rest.
Together, they represented nearly 52% of the 46-stock portfolio. Aphria leads with a 141% gain this year through Thursday’s close. The Canada-based company produces and sells medical cannabis and other products.
Drugmaker Soars, REIT Slips
GW Pharma, up 86%, is a U.K. biotech whose epilepsy treatment became the first cannabis-derived drug approved by the Food and Drug Administration. Jazz Pharmaceuticals‘ (JAZZ) $7.2 billion acquisition of GW is expected to close this quarter.
Village Farms, a greenhouse grower of vegetables and hemp, is up 39%. Canadian pot producer Canopy Growth holds a…
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