A Cannabis ETF Looking For Redemption

Cannabis stocks and exchange traded funds endured a summer of woe. The actively managed AdvisorShares Pure Cannabis ETF (NYSE: YOLO) is saddled with a third-quarter loss of 18.55%, but the fund’s manager, Dan Ahrens, believes YOLO and some of its components are poised to rebound.

What Happened

YOLO and rival cannabis ETFs are coming off a rough August, but some stocks in the group are showing positive signs and that could position cannabis asset for a more credible rally later this year.

“While some individual securities were showing promising revenue growth and positive earnings, most cannabis stocks were down in August, continuing their summer months struggle,” said Ahrens in a recent note. “However, I feel it’s time for it to come to an end. As I’m writing this commentary in early September, we’re already seeing a …

Full story available on Benzinga.com

More A Cannabis ETF Looking For Redemption