For investors seeking momentum, Amplify Seymour Cannabis ETF (CNBS - Free Report) is probably on radar. The fund just hit a 52-week high and is up 265% from its 52-week low of $6.48 per share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed.
CNBS in Focus
CNBS is actively managed ETF offering exposure in the fast-developing global cannabis industry. It invests 80% of its assets in securities of companies with 50% or more of their revenues from the cannabis and hemp ecosystem. The fund charges 75 bps in annual fees (see: all the World ETFs here).
Why the Move?
The cannabis industry has been an area to watch lately given their outperformance last week. A slew of financing deals and strong earnings reports have added further fuel in the surging pot stocks. These stocks have been on a tear following the Democratic victories in Georgia’s two runoff elections that have spurred hopes for near-term decriminalization and the growing adoption of marijuana in more states.
More Gains Ahead?
It seems that CNBS might remain strong given a high weighted alpha of 118.85 and a low 20-day volatility of 49.25%. As a result, there is definitely still some promise for risk-aggressive investors who want to ride on this surging ETF.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For investors seeking momentum, Amplify Seymour Cannabis ETF (CNBS - Free Report) is probably on radar. The fund just hit a 52-week high and is up 265% from its 52-week low of $6.48 per share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed.
CNBS in Focus
CNBS is actively managed ETF offering exposure in the fast-developing global cannabis industry. It invests 80% of its assets in securities of companies with 50% or more of their revenues from the cannabis and hemp ecosystem. The fund charges 75 bps in annual fees (see: all the World ETFs here).
Why the Move?
The cannabis industry has been an area to watch lately given their outperformance last week. A slew of financing deals and strong earnings reports have added further fuel in the surging pot stocks. These stocks have been on a tear following the Democratic victories in Georgia’s two runoff elections that have spurred hopes for near-term decriminalization and the growing adoption of marijuana in more states.
More Gains Ahead?
It seems that CNBS might remain strong given a high weighted alpha of 118.85 and a low 20-day volatility of 49.25%. As a result, there is definitely still some promise for risk-aggressive investors who want to ride on this surging ETF.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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