Best Cannabis Stocks For Investors In 2023
Do you aim to make long-term investments in the best marijuana stocks? Given the market volatility associated with the best cannabis stocks to watch, finding long-term investments with a general feeling of stability may be difficult.
Over the next five years, the cannabis market is expected to more than double. The US cannabis sector is another one that will expand significantly. Congress is now delaying the SAFE Banking rules and the federal cannabis legislation, which has had a negative impact on the cannabis business. Leading marijuana companies would see more volatility overall if federal marijuana legalization fails on Capitol Hill. Investors can profit from the market’s current momentum by taking advantage of the sector’s recovery.
Most of these top US marijuana stocks are now prohibited from trading on important US stock exchanges like the Nasdaq and NYSE because of legal restrictions. Currently, they trade on OTC marketplaces, which are more difficult to access for institutional investors and novice regular investors. OTC shares are avoided by major financial institutions and the fastest-growing retail trading platforms, such as WeBull and Robinhood Markets, Inc. (NASDAQ: HOOD). But investing in some of these companies is simple when using marijuana ETFs.
Thanks to exchange-traded funds, investors now have access to cannabis-related businesses that aren’t yet listed on well-known stock markets. A cannabis ETF, which trades like regular securities on the stock exchange, frequently tracks an index, sector, commodity, or other asset. By locating the best cannabis ETFs that include the companies you wish to invest in, you may invest in the whole cannabis market with just one stake. Let’s look at the top 3 marijuana exchange-traded funds (ETFs) to follow.
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Top Cannabis ETFs For Investors In Q2 2023
- AdvisorShares Pure US Cannabis ETF (NYSE: MSOS)
- Amplify Growth Opportunities ETF (NYSE: CNBS)
- ETFMG Alternative Harvest ETF (NYSE: MJ)
The AdvisorShares Pure US Cannabis ETF (MSOS)
The AdvisorShares Pure US Cannabis ETF, which now manages over $1 billion in assets, is the first marijuana ETF in the United States. This top marijuana ETF has a sizable portion of its holdings and assets invested in US cannabis companies. Vertically integrated multi-state US operators, well-known US cannabis REITs, CBD enterprises, organizations, firms, and hydroponic suppliers often own most of the ETF’s holdings. Some of the MSOS ETFs that are now accessible include Trulieve Cannabis Corp. (TCNNF), Curaleaf Holdings, Inc. (CURLF), Green Thumb Industries Ltd. (OTC: GTBIF), and Cresco Labs Inc. (OTC: CRLBF).
MSOS ETF closed at $5.35 on April 6th, down 24.82% in the past month of trading. This ETF is down 25.46% year to date, with a 52-week price range of $5.10-$20.10.
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Amplify Seymour Cannabis ETF (CNBS)
The Amplify Seymour Cannabis ETF exposes investors to the global cannabis market by investing more than 80% of its assets in companies that generate revenue from cultivating cannabis and hemp. Due to swaps, this cannabis ETF now has access to US MSOs. CNBS retains large interests in WM Technology, Inc. (NASDAQ: MAPS), Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM), and AFC Gamma (NASDAQ: AFCG), Inc. as a result of the inclusion of US cannabis firms. Also, it owns GrowGeneration Inc. (NASDAQ: GRWG) and Tilray, Inc. (NASDAQ: TLRY).
On April 6th, the CNBS ETF finished at $4.03, down 21.13% in the last trading month. The ETF is up 22.99% year to date, with a 52-week price range of $3.911-$11.98.
ETFMG Alternative Harvest ETF (MJ)
Alternative Harvest ETF was one of the earliest and largest exchange-traded funds focusing on cannabis (ETFs). The MJ ETF’s current net asset value is $386.32 million. The first and only cannabis ETF with a U.S. listing that exclusively targets the global cannabis industry is still one of the largest in the world, MJ. Investors in the MJ fund are exposed to the cannabis business areas undergoing legal, medical, and merger and acquisition activity. The Alternative Harvest ETF includes Tilray, Inc. (NASDAQ: TLRY), Canopy Growth Corporation (NASDAQ: CGC), and GrowGeneration Corp. as three of Canada’s largest marijuana companies (NASDAQ: GRWG). The MJ ETF delivers a dividend yield of about 1.75 percent for long-term investors.
MJ ETF closed on April 6th at $3.37, down 19.22% in the last month’s trading. At present, MJ ETF has a 52-week price range of $4.02-$11.45 and is up 22.07% year to date.
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Investing In Cannabis ETFs For 2023
Due to the current market’s volatility, every investment carries some risk. One can profit in the cannabis industry by monitoring the market performance of cannabis ETFs and the recent and upcoming industry catalysts. The cannabis market will double in size over the following five years. Buying a marijuana ETF is one way to quickly access the larger cannabis business.
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