For investors seeking momentum, Amplify Seymour Cannabis ETF (CNBS) is probably on radar. The fund just hit a 52-week high and is up 351% 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?
Marijuana stocks started February on a strong note. The latest surge came on the heels of the news that three Democratic senators led by Majority Leader Chuck Schumer said they would make reform legislation a key consideration in the current Congress, boosting hopes for a federal legalization.
More Gains Ahead?
The fund has a positive weighted alpha of 187.01. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
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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) is probably on radar. The fund just hit a 52-week high and is up 351% 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?
Marijuana stocks started February on a strong note. The latest surge came on the heels of the news that three Democratic senators led by Majority Leader Chuck Schumer said they would make reform legislation a key consideration in the current Congress, boosting hopes for a federal legalization.
More Gains Ahead?
The fund has a positive weighted alpha of 187.01. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
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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