Best Cannabis Stocks To Buy After This Recovery?
Do you intend to make a long-term investment by investing in the top marijuana stocks? Finding long-term investments with stability, in general, may be challenging given the market volatility associated with the best cannabis stocks to watch right now. In a speech he gave yesterday, President Biden pledged to work toward decriminalizing marijuana, which sent top cannabis stocks surging in the afternoon session.
Most of these top US marijuana stocks are prohibited from trading on major US stock exchanges like the Nasdaq and NYSE because of current legislative prohibitions. They currently trade on OTC marketplaces, which institutional investors and novice retail investors find more challenging to access. OTC stocks are avoided by both larger investment companies and the fastest-growing retail trading platforms, including Robinhood Markets, Inc. (NASDAQ: HOOD), and WeBull. On the other hand, investing in some of these businesses is made simple by marijuana ETFs.
Cannabis exchange-traded funds provide access to cannabis companies that aren’t yet listed on significant stock markets. In general, an ETF will normally follow an index, sector, commodity, or other asset and trade on the stock exchange like a regular stock. You may invest in the whole cannabis industry with just one stake by finding the best cannabis ETFs that contain the businesses you wish to participate in. Let’s look at four of the top marijuana ETFs to watch in 2022 as the market rises in October.
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Best Marijuana ETFs For October 2022
- AdvisorShares Pure US Cannabis ETF (NYSEArca: MSOS)
- Amplify Growth Opportunities ETF (NYSEArca: CNBS)
- AdvisorShares Pure Cannabis ETF (NYSEArca: YOLO)
- ETFMG Alternative Harvest ETF (NYSEArca: MJ)
The AdvisorShares Pure US Cannabis ETF (MSOS)
AdvisorShares Pure US Cannabis ETF is the first marijuana ETF in the US with more than $1 billion in assets under management. The majority of the assets and holdings in this top marijuana ETF are cannabis companies from the United States. The majority of the ETF’s assets are often held by vertically integrated multi-state US operators, leading US cannabis REITs, CBD enterprises, corporations and businesses, and hydroponic suppliers. Among the MSOS ETFs that are currently accessible are Trulieve Cannabis Corp. (TCNNF), Curaleaf Holdings, Inc. (CURLF), Green Thumb Industries Inc. (OTC: GTBIF), and Cresco Labs Inc. (OTC: CRLBF).
MSOS ETF closed at $12.14 on October 6th, up 36.25% in the past five days of trading. This ETF is down 52.56% year to date, with a 52-week price range of $8.70-$33.80. Currently, the MSOS ETF does not pay a dividend.
Amplify Seymour Cannabis ETF (CNBS)
By investing more than 80% of its assets in companies that profit from the cultivation of cannabis and hemp, the Amplify Seymour Cannabis ETF gives investors exposure to the global cannabis market. Due to swaps, this cannabis ETF now has access to US MSOs. Due to the inclusion of US cannabis companies, CNBS has sizeable stakes in WM Technology, Inc. (NASDAQ: MAPS), Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM), and AFC Gamma (NASDAQ: AFCG), Inc. GrowGeneration Corp. (NASDAQ: GRWG) and Tilray, Inc. are among of its additional holdings (NASDAQ: TLRY).
On October 6th the CNBS ETF finished at $7.20 up 20.54% in yesterday’s trading. The ETF is down 49.04% year to date, with a 52-week price range of $5.75-$20.44. Amplify ETFs’ total assets under management surpassed $5 billion in 2021.
AdvisorShares Pure Cannabis ETF YOLO
AdvisorShares Pure Cannabis ETF, also known as YOLO ETF, is the second most popular cannabis ETF on the market. It invests in both local and foreign cannabis businesses with the intention of building long-term wealth. WM Technology, Inc. (MAPS), Canopy Growth Corporation (NASDAQ: CGC), Village Farms International, Inc. (NASDAQ: VFF), and Tilray Brands, Inc. are among the companies that the ETF owns (TLRY). Investors would essentially have access to some of the most well-known cannabis businesses in the US and Canada through this ETF.
YOLO ETF closed on October 6th at $5.29 up 26.27% in yesterday’s trading. In this case, the ETF has a 52-week range of $4.11-$18.34 and is down 57.85% year to date.
ETFMG Alternative Harvest ETF (MJ)
One of the first and biggest exchange-traded funds with a concentration on cannabis was Alternative Harvest ETF. At the present time, the current net asset value of the MJ ETF is $386.32 million. The first and only cannabis ETF with a U.S. listing that only focuses on the global cannabis market is MJ, which continues to be one of the biggest cannabis ETFs in the world. As a result, through the MJ fund, investors are gaining exposure to cannabis industry segments that are undergoing legal, medical, and merger and acquisition activity. Three of the leading Canadian marijuana businesses are featured in the Alternative Harvest ETF: Tilray, Inc. (NASDAQ: TLRY), Canopy Growth Corporation (NASDAQ: CGC), and GrowGeneration Corp. (NASDAQ: GRWG). For long-term investors, the MJ ETF offers a dividend yield of roughly 1.75 percent.
MJ ETF closed on October 6th at $5.81 up 19.55% in yesterday’s trading. At the present time, MJ ETF has a 52-week price range of $4.58-$15.78 and is down 47.56% year to date.
Marijuana ETFs For October In 2022
Every investment entails some risk because of the present market’s volatility. It can be feasible to make money with cannabis ETFs by keeping an eye on their market performance and current potential catalysts for the cannabis business. Over the next five years, the cannabis market will more than double in size. One method to enter the bigger cannabis sector with a single trade is to invest in a marijuana ETF.
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