ETF Managers Group of Summit, New Jersey, has filed the initial registration paperwork to make a cannabis related exchange traded fund. Currently, there are 66 companies that are on the list to be part of the ETF. The cannabis ETF will be named Emerging Agrosphere ETF. Those companies include:
22nd Century Group, Abattis Bioceuticals, Abbott Laboratories, Abbvie, Aero Grow Intl, Affinor Growers, Agritek Holdings, American Cannabis Company, Americann, Aphria, Arrow Electronics, Aurora Cannabis, Axim Biotechnologies, Beleave, Cannabics Pharmaceuticals, Cannabis Sativa, Cannabis Science, Cannabix Technologies, Cannagrow Holdings, Canopy Growth, Cara Therapeutics, Cree, CV Sciences, Easton Pharmaceuticals, Eco Science Solutions, Emblem, Emerald Health Therapeutics, General Cannabis, Golden Leaf Holdings, Green Cures & Botanical Distribution, Greengro Technologies, Growblox Sciences, GW Pharmaceuticals, Heliospectra, Hemp Inc, ICC International Cannabis, Inmed Pharmaceuticals, Insys Therapeutics, Kaya Holdings, Kush Bottles, Maple Leaf Green World, Marapharm Ventures, Marijuana Company Of America, Massroots, mCig, Medical Marijuana Inc, Medicine Man Technologies, Mentor Capital, Naturally Splendid Enterprises, New Colombia Resources, Novus Acquisition & Development, Nutritional High, Organigram, OWC Pharmaceutical, Pharmacan Capital, Pharmacyte Biotech, Rocky Mountain High Brands, Scotts Miracle-Gro, Signal Bay, Supreme Pharmaceuticals, Surna, Terra Tech, Tetra Bio-Pharma, THC Biomed, Trailblazer Resources, United Cannabis Corp, Veritas Pharma, Vodis Pharmaceuticals and Zynerba Pharmaceuticals.
If approved, this would be the first cannabis ETF on the market. The ETF contains quite a bit of pharmaceuticals as well as Medical Marijuana Inc. (MJNA), one of the most popular cannabis stocks on the market. Hopefully getting in the market will help make the push for marijuana legalization everywhere.
Can the stocks live up to the hype? Or are marijuana stocks overvalued?
*The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.