In this episode of ETF Spotlight, I speak with Tim Seymour, CIO of Seymour Asset Management and co-host of CNBC's Fast Money, and Christian Magoon, CEO of Amplify ETFs. We discuss cannabis investing and the Amplify Seymour Cannabis ETF (CNBS - Free Report), which is actively managed by Tim.
Cannabis stocks & ETFs have done quite well over the past few weeks as a Biden administration is expected to support decriminalization of recreational marijuana and legalization of medicinal marijuana at the federal level.
New Jersey, Arizona, Montana, and South Dakota have voted to make recreational marijuana legal and Mississippi approved its medical use, starting next year. Medical use of marijuana is already legal in 33 states and in the District of Columbia, while its recreational use is legal in 11 states and DC.
Cannabis however remains illegal at the federal level. That results in major challenges for US marijuana companies. Further, the industry is evolving rapidly and therefore these stocks are very volatile. What lies ahead?
GW Pharmaceuticals (GWPH - Free Report), Canopy Growth Corporation (CGC - Free Report), Cronos Group (CRON - Free Report), Innovative Industrial Properties (IIPR - Free Report), GrowGeneration (GRWG - Free Report) and Aphria (APHA - Free Report) are CNBS’s top holdings. What do investors need to know about these companies? We also discuss recent quarterly earnings of major cannabis companies.
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