Investors looking to take their portfolios one toke over the line may wish to consider taking a look – preferably sober and without the narcotizing stimulation from the celebrated wacky weed – at the following quintet of cannabis industry-focused stocks.
ETFMG Alternative Harvest ETF (NYSE: MJ)
Founded in 2014 and headquartered in Summit New Jersey, this is the largest cannabis-focused exchange-traded fund on the market and the first and only U.S.-listed ETF to target the global cannabis industry directly, via the Prime Alternative Harvest Index.
The top holding in this ETF’s portfolio is the 10.35% share of Britain’s GW Pharmaceuticals plc (NASDAQ: GWPH), followed by a 9.88% share of Canada’s Aphria Inc. (NASDAQ: APHA) and a 7.01% share of Tilray Inc. (NASDAQ: TLRY).
On Dec. 4, 2020, this ETF reached the mark of $1 billion assets under management.
MJ trades around at $20.18, which is between its 52-week high of $34.58 and its 52-week low of $10.12
cbdMD (NYSE: YCBD)
Founded in 2015 and headquartered in Charlotte, North Carolina, this company offers a line of consumer hemp-based cannabidiol (CBD) products, including gummies, tinctures, vape oils, topicals, bath bombs and pet products for the U.S. market.
Although the regulation of CBD products in the U.S. is fragmented, cbdMD has sought to make its brand known through high-profile advertising on with the popular Joe Rogan Podcast and partnerships with Bellator MMA, Life Time Fitness and Barstool Sports.