First Marijuana ETF Surges In First Day Of Trading

First Marijuana ETF Surges In First Day Of Trading
First Marijuana ETF Surges In First Day Of Trading

If the first day is a sign of things to come, the marijuana bull market has many more legs left in it.

Yesterday the Horizons Medical Marijuana Life Sciences ETF (which trades under the symble “HMMJ” on the TSX) launched.

Investors plowed in.

More than 3.4 million shares changed hands. All above C$10 per share.

Although it’s not the ideal marijuana investment.

The Seed Investor continues to believe the best marijuana investments for 2017 will be direct investments in the legal and licensed marijuana producers (especially the Canadian licensed producers) and biotech companies.

The Horizons marijuana ETF contains more direct marijuana stocks to buy including marijuana-derived biotech developer GW Pharmaceuticals (GWPH).

But it also holds companies like Scotts Miracle-Gro (SMG) which generates $2.8 billion a year in total revenues and only a fraction of which will ever come from the marijuana industry.

So again, it’s not the perfect marijuana investment.

It does open up the opportunity for more investors (and their capital) to come into the sector which is definitely a good thing for marijuana investors.