⌛ Did you miss ProPicks’ 13% gains in May? Subscribe now & catch June’s top AI-picked stocks early.Unlock Stocks

6 Companies Added To Main Cannabis ETFs

Published 05/01/2021, 09:12 pm

One of the events that marked the close of 2020 in the cannabis sector was the announcement of the quarterly rebalancing of the two main exchange-traded funds (ETFs) that offer exposure to a cross section of companies in the industry.

The exercise added six stocks—three new stocks to each of the ETFs. These equities could be worth putting on your watch list.

The two ETFs are managed by the Canadian-based firm Horizons ETFs. One fund, the Horizons US Marijuana Index ETF (NLB:HMUS), concentrates on American players, while the other, Horizons Medical Marijuana Life Sciences (TSX:HMMJ), focuses primarily on Canadian companies in the cannabis space.

New Additions To HMUS

HMUS is the world’s first US-focused marijuana index ETF. It aims to replicate the performance of the US Marijuana Companies Index, which includes many prominent names in the cannabis as well as the hemp industries. Some trade in both Canada and the US.

HMUS Daily

The three new additions to the ETF are:

  • Slang Worldwide (OTC:SLGWF) (CSE:SLNG), a relatively small Canadian-based company that distributes several brands across the United States. It has a market cap of just under $90 million. Its stock value is almost exactly the same as it was this time last year, but it could find some upward momentum this year.
  • SOL Global (OTC:SOLCF) (CSE:SOL), a US investment company that focuses on cannabis cultivation, distribution and research and development in several states, as well as cannabis and hemp markets in Europe. It also has a research partnership with the University of Miami. Its has a market cap of just under $120 million, and its stock has more than doubled in the last year, closing Monday at $2.16.
  • C21 Investments (OTC:CXXIF) (CSE:CXXI), a Vancouver-based, vertically integrated cannabis grower that is also actively distributing marijuana and hemp products in the US and a variety of other countries around the globe. It has a market cap of just under $165 million. Its stock gained in the last months of 2020, closing Monday at $1.52.

New Additions to HMMJ

Horizon’s HMMJ cannabis ETF was the world’s first ETF in the cannabis space. It aims to replicate the performance of the North American Marijuana Index. All of its members have a market cap of more than C$75 million (US$59 million).

HMMJ Daily

The three new additions to the ETF are:

  • Sundial Growers (NASDAQ:SNDL), a Calgary-based grower founded in 2006. It is traded on the NASDAQ, and focuses on craft-scale cultivation. It has a market cap of about $361 million. Its stock performed well in the latter half of 2020, closing yesterday at 55 cents a share.
  • Supreme Cannabis Company (OTC:SPRWF) (TSX:FIRE), although a relatively small Toronto-based firm, has emerged as a prominent producer of recreational, wholesale and medical cannabis products. It has a market cap of about $67 million and its shares closed yesterday at just over 13 cents.
  • Pharmacielo (OTC:PCLOF) (TSXV:PCLO), headquartered in Toronto, the company specializes in medicinal grade cannabis oil extracts. It has a market cap of $228 million. Its stock closed Monday at $1.61.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.