The first US cannabis ETF surpassed $1 billion in AUM in its first 6 months of trading
Tuesday, 23 February 2021, 22:19:10
Summary List Placement The AdvisorShares Pure US Cannabis ETF has surpassed $1 billion in AUM in just six months. The fund was the first US ETF to focus solely on American cannabis companies and multi-state operations. The ETF has returned 110% since its inception. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . The AdvisorShares Pure US Cannabis ETF has surpassed $1 billion in assets under management, according to a company statement released Tuesday. The ETF, which trades under the ticker MSOS, launched on September 2, 2020 and has grown from $2.5 million in assets to now $1 billion in just six months. The fund has returned 110% since its inception and 37% in 2021 alone. The AdvisorShares ETF was the first US exchange traded fund to focus solely on American cannabis companies and multi-state operations (MSOs), or companies directly involved in the legal production and distribution of cannabis. The fund's inflows are a sign of growing investor interest in the cannabis space amid speculation that the Biden administration will keep its campaign promises and decriminalize marijuana.
— Business Insider
3 Reasons Cannabis Stocks May Be Headed Lower
Friday, 19 February 2021, 22:20:41
The ETFMG Alternative Harvest ETF (NYSE: MJ ) rebounded by 3.1% on Friday to around $25, but the find is still way off its February high of near $35. On Friday, DataTrek Research co-founder Jessica Rabe discussed what drove the early 2021 cannabis stock rally and three reasons why it has run out of steam in the past two weeks. Blue Wave Rally: Rabe said headlines related to U.S. federal legalization of cannabis always trigger a rally in marijuana stocks, regardless of whether or not the reality of legalization is any closer. Democratic control of the White House and both houses of Congress following the November U.S. elections is the biggest driver of the huge rally in cannabis stocks. Related Link: Cannabis Stock Short Sellers Have $4.3B In Losses So Far In 2021 In addition, Rabe said WallStreetBets and other online communities of young retail traders turned their attention to cannabis stocks after trading in GameStop Corp. (NYSE: GME ) and other … Full story available on Benzinga.com
Day Traders Now Helping to Power Marijuana ETFs
Wednesday, 10 February 2021, 21:31:19
Cannabis sector-related exchange traded funds maintained their momentum on Wednesday as the Reddit crowd of day traders turned their attention to marijuana stocks. Among the best performing non-leveraged ETFs of Wednesday, the ETFMG Alternative Harvest ETF (NYSEArca: MJ) advanced 11.9%, Cambria Cannabis ETF (TOKE) increased 6.8%, Global X Cannabis ETF (NASDAQ: POTX) surged 15.2%, AdvisorShares Pure […] The post Day Traders Now Helping to Power Marijuana ETFs appeared first on ETF Trends .
— ETF Trends
Pot Stock Shorts Smoked As Reddit Raiders Chase Prices Higher
Wednesday, 10 February 2021, 16:16:50
Pot Stock Shorts Smoked As Reddit Raiders Chase Prices Higher With Gamestop stock in freefall, down a further 5% Wednesday morning to the low 47-handle, r/WallStreetBets has gravitated to cannabis stocks in recent days, squeezing the living daylights out of any hedge fund that is short pot stocks. Cannabis firms Sundial Growers and Tilray both jumped more than 30% at the beginning of the US cash session. Other pot stocks, including Aphria Inc (+12%), Canopy Growth (+12%), Aurora Cannabis (+12%), and Organigram (+27%), saw tremendous gains at the open. ETFMG Alternative Harvest ETF, otherwise known as the pot ETF, has nearly doubled in price in a few weeks. Before Tilray erupted, the short interest in the stock was around a quarter, giving r/WallStreetBets a good enough reason to pile into it and pressure the “suits” who are short. r/WallStreetBets most discussed tickers on Tuesday were Tilray (#2), Aphria (#3), and Sundial Growers (#4). The Reddit community of daytraders has exponentially increased since the parabolic move in Gamestop.
— Zero Hedge
Marijuana ETFs Jump as Tilray Secures Distribution in the U.K.
Tuesday, 9 February 2021, 23:02:42
Marijuana stocks and cannabis-related exchange traded funds climbed Tuesday after Tilray (NasdaqGS: TLRY) struck a deal with Grow Pharma to import and distribute medical cannabis products in the United Kingdom, potentially foreshadowing the expansion of the pot businesses into more globalized markets. Among the best performing non-leveraged ETFs of Tuesday, the ETFMG Alternative Harvest ETF […] The post Marijuana ETFs Jump as Tilray Secures Distribution in the U.K. appeared first on ETF Trends .
— ETF Trends
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