Marijuana ETFs Grow after Aphria’s Sales Beat Projections
Thursday, 14 January 2021, 22:09:56
Marijuana stocks and sector-related exchange traded funds surged Thursday after Canadian cannabis growers reported some stellar quarterly results. Among the best performing non-leveraged ETFs of Thursday, the ETFMG Alternative Harvest ETF (NYSEArca: MJ) advanced 8.2%, Cambria Cannabis ETF (TOKE) increased 5.2%, Global X Cannabis ETF (NASDAQ: POTX) surged 10.6%, AdvisorShares Pure Cannabis ETF (YOLO) gained 4.9%, […] The post Marijuana ETFs Grow after Aphria’s Sales Beat Projections appeared first on ETF Trends .
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Pot ETFs High as Georgia Runoff Bolsters Bets on Decriminalization
Wednesday, 6 January 2021, 21:20:05
Marijuana stocks and cannabis-related exchange traded funds climbed Wednesday as a Democratic victory in the Georgia Senate runoff election raised hopes of decriminalization in a more progressive-leaning federal government. Among the best performing non-leveraged ETFs of Tuesday, the ETFMG Alternative Harvest ETF (NYSEArca: MJ) advanced 8.8%, Cambria Cannabis ETF (TOKE) increased 7.2%, Global X Cannabis ETF […] The post Pot ETFs High as Georgia Runoff Bolsters Bets on Decriminalization appeared first on ETF Trends .
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The Week In Cannabis: Tilray-Aphria Merge, Aurora Continues Layoffs, Financings, Earnings, M&A
Friday, 18 December 2020, 22:43:15
Cannabis stocks traded up this week, following news of the merger between Aphria (NASDAQ: APHA ) and Tilray (NASDAQ: TLRY ). Benzinga spoke with Aphria CEO and chairman Irwin D. Simon , who will maintain those two positions in the new company, and Tilray CEO Brendan Kennedy , who will serve in the new corporation’s board of directors. The executives shared details on how the deal came to be, and their expectations for the future, which, they say, doesn’t include massive layoffs. For the full story, click here . Cantor Fitzgerald’s analyst Pablo Zuanic praised the merger. The Canadian cannabis sector is in need of consolidation due to the oversupply problems and “historically low ﬂower retail prices,” he explained . Green Market Report CEO Debra Borchardt told Benzinga the Aphria/Tilray merger “was certainly a good deal for Tilray shareholders, while the Aphria shareholders will probably have to wait a bit before they see the benefits of this deal. The combined company will definitely be a powerhouse of revenue, there is no question about that.” ETFs Benzinga’s ETF Professor argued a variety of exchange-traded funds are poised to benefit, perhaps none more so than the Amplify Seymour Cannabis ETF (NYSE: CNBS ). “The status of CNBS as a credible play on this takeover rumor is easy to explain: Its Aphria weight outpaces that of many of its rivals.
The Week In Cannabis: Big Money, Mexico, South Carolina, Jay-Z, Martha Stewart, Nicole Kidman And More
Saturday, 12 December 2020, 20:14:07
Cannabis stocks traded down this week, despite a series of financing announcements and other good news, including a new bill from Congress. GrowGeneration Corp. (NASDAQ: GRWG ) wants to raise $125 million via a public offering. The offering was then upsized to $150 million on Wednesday, offering 5 million shares at a price of $30.00 per share. Weedmaps is going public via a merger with Silver Spike Acquisition Corp . (NASDAQ: SSPK ), while LeafLink closed a $40 million Series C funding round led by Founders Fund. “Money keeps flowing into the cannabis space as we saw the huge $1.5 billion valuation given to the Weedmaps deal with the Silver Spike SPAC. Not only that, GrowGeneration supersized its offering from $125 million to $150 million. Despite the inconsistent stock performance, there is still a big demand for investment in this industry,” Debra Borchard, editor in chief of Green Market Report, told Benzinga. ETFMG Alternative Harvest ETF surpassed $1 billion in assets under management.
ETFMG Alternative Harvest Hits $1B In Assets Under Management
Wednesday, 9 December 2020, 21:12:09
US-traded cannabis ETF ETFMG Alternative Harvest ETF – known as MJ – surpassed $1 billion in assets under management on Dec. 4. The news is disclosed Wednesday by ETF Managers Group LLC which manages the fund, launched in December 2017. The fund has been trading on NYSE for less than three years, being the first cannabis-focused ETF to list in the United States. Jason Wilson, ETFMG Cannabis Research and Banking, told Benzinga that “there are two key takeaways as it relates to MJ and the significance of achieving … Full story available on Benzinga.com
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