Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

6 Companies Added To Main Cannabis ETFs

By Investing.com (Brenda O'Farrell/Investing.com)Stock MarketsJan 05, 2021 05:06AM ET
www.investing.com/analysis/6-companies-added-to-main-cannabis-etfs-200549569
6 Companies Added To Main Cannabis ETFs
By Investing.com (Brenda O'Farrell/Investing.com)   |  Jan 05, 2021 05:06AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

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
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
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.
6 Companies Added To Main Cannabis ETFs
 

Related Articles

6 Companies Added To Main Cannabis ETFs

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email