Investor interest in marijuana stocks continues to rise, particularly since legalization of pot for recreational use in Canada last year. The ETFMG Alternative Harvest ETF (MJ - Free Report) is one of the best performing ETFs so far this year.
In the US, 33 states and the District of Columbia have legalized marijuana’s medical use and supply, and ten states now allow marijuana for recreational use but it remains illegal at the federal level.
A number of alcohol companies are investing in marijuana as alcohol consumption is going down in the US while cannabis consumption has been rising. Cannabis infused beverages are set to become legal in Canada later this year.
There is rising interest in the medical benefits of marijuana too, particularly in areas like pain management and epilepsy treatment.
According to Barclays, the US cannabis market would be $28 billion if legalized today, growing to $41 billion by 2028. However, marijuana stocks are usually quite volatile. ETFs provide diversified exposure to this hot but volatile space.
MJ has been quite popular with investors and has gathered about $1.3 billion in assets, as it was the only ETF available to investors to play the cannabis craze. Its top holdings include GW Pharmaceuticals , Aurora Cannabis (ACB - Free Report) , Canopy Growth (CGC - Free Report) , Cronos (CRON - Free Report) and Tilray (TLRY - Free Report) .
With the launch of actively managed AdvisorShares Pure Cannabis ETF (YOLO - Free Report) last month, investors have one more option to get exposure to this space. And there are some more pot ETFs in the pipeline.
To learn more about marijuana investing and these ETFs, please watch the short video above.
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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 >>
Investor interest in marijuana stocks continues to rise, particularly since legalization of pot for recreational use in Canada last year. The ETFMG Alternative Harvest ETF (MJ - Free Report) is one of the best performing ETFs so far this year.
In the US, 33 states and the District of Columbia have legalized marijuana’s medical use and supply, and ten states now allow marijuana for recreational use but it remains illegal at the federal level.
A number of alcohol companies are investing in marijuana as alcohol consumption is going down in the US while cannabis consumption has been rising. Cannabis infused beverages are set to become legal in Canada later this year.
There is rising interest in the medical benefits of marijuana too, particularly in areas like pain management and epilepsy treatment.
According to Barclays, the US cannabis market would be $28 billion if legalized today, growing to $41 billion by 2028. However, marijuana stocks are usually quite volatile. ETFs provide diversified exposure to this hot but volatile space.
MJ has been quite popular with investors and has gathered about $1.3 billion in assets, as it was the only ETF available to investors to play the cannabis craze. Its top holdings include GW Pharmaceuticals , Aurora Cannabis (ACB - Free Report) , Canopy Growth (CGC - Free Report) , Cronos (CRON - Free Report) and Tilray (TLRY - Free Report) .
With the launch of actively managed AdvisorShares Pure Cannabis ETF (YOLO - Free Report) last month, investors have one more option to get exposure to this space. And there are some more pot ETFs in the pipeline.
To learn more about marijuana investing and these ETFs, please watch the short video above.
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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