Marijuana Stocks

More than a dozen states could consider recreational pot legalization this year, as New Jersey and Virginia move forward.

Marijuana ETFs are burning up the performance charts.

President Joe Biden's administration is issuing new guidelines Friday meant to address a hurdle tied to recreational marijuana that it faced as it aims to quickly fill key White House positions, said an NBC News report citing unnamed officials. The White House on a case-by-case basis will waive a requirement that potential appointees be eligible for a "Top Secret" clearance, and the waiver only would be granted to those who have used marijuana to a limited degree and who are in positions that don't ultimately require a security clearance, the report said.

Jefferies' Owen Bennett lowered his rating on Canopy Growth to Underperform from Hold, though he upped his price target to $23.03 from $21.10.

We’re getting a very tight trading range this week, with the S&P 500 keeping the damage limited but also not allowing much upside traction. Will stocks resolve higher or lower in the upcoming holiday-shortened week? We’ll know soon enough. With all of that in mind, let’s look at some top stock trades in the meantime. Top Stock Trades for Tuesday No. 1: MJ ETF (MJ) Click to EnlargeSource: Chart courtesy of TrendSpider The cannabis trade has been volatile this week, with major gains and major losses taking place. That has created a bumpy ride for the ETFMG Alternative Harvest ETF (NYSEARCA:MJ). For several days, it looked like the ETF was going to hold up over the 200-week and 10-day moving averages. However, it’s struggling to hold above those marks now, as well as the 161.8% extension.InvestorPlace - Stock Market News, Stock Advice & Trading Tips A move back above the 161.8% could open the door back to $30-plus. Above the current high, and the 261.8% extension is possible up near $36. 7 Must-Own Stocks in February If the MJ ETF moves below Friday’s low, a dip to $20 is possible — with the 10-week and 50-day moving averages in play below that. Top Stock Trades for Tuesday No. 2: Newell Brands (NWL) Click to EnlargeSource: Chart courtesy of TrendSpider Newell Brands (NASDAQ:NWL) isn’t trading well on earnings, down almost more than 7% on Friday. The stock made a very clear attempt to reclaim the 200-week moving average, but failed to do so. That leaves it vulnerable to lower prices, in my opinion. If shares take out Friday’s low, look for a test of the 10-week and 50-day moving averages. If that fails, a longer-term dip to the 21-week moving average and $21 level could be in order. On the upside, however, look for NWL to reclaim the 200-week moving average, followed by a gap-fill up toward $26. Above puts the recent high near $27 in play, followed by a possible move to the 161.8% extension. Top Stock Trades for Tuesday No. 3: CIIC Merger (CIIC) Click to EnlargeSource: Chart courtesy of TrendSpider CIIC Merger (NASDAQ:CIIC) has been an interesting one lately, as shares consolidate in a tight range. We’re getting multiple inside days in row, as the 50-day moving average and downtrend resistance (blue line) continue to keep a lid on CIIC stock. A move over these marks puts $30 resistance in play. If CIIC stock can clear $30, it could put the 61.8% retracement of the current range on the table, up near $32.50. Above opens the door to a retest of the highs near $37. The Top 4 Stocks to Buy to Play Space Race 2.0 On the downside, though, a break of the 10-week moving average could put the $25 to $25.50 area in play. Top Trades for Tuesday No. 4: Bionano Genomics (BNGO) Click to EnlargeSource: Chart courtesy of TrendSpider Bionano Genomics (NASDAQ:BNGO) is ripping higher on Friday, finishing 17% higher on the day. The move thrust shares over $12.50 resistance and at least temporarily sent the stock to new highs. Learn to spot these types of patterns. The stock has been strong for several months, then gave us a sharp pull to the 10-day moving average — the first setup we like for a bounce. We got the initial bounce, but it was followed mostly by sideways consolidation, which is just fine. Traders could have played the bounce and bailed during consolidation if they so chose. However, the stock continued to ride the 10-day moving average, which shows that bulls are engaged and accumulating on the dip. When the stock went weekly-up over $12.70, traders were looking for a move back toward the $13.85 high. A few traders surely booked some profit into that zone. If they kept a partial position, they’re likely looking for a move up toward $15 and potentially up to the 161.8% extension near $16.50. On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in any of the securities mentioned in this article. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next Potential Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. #1 Play to Profit from Biden's Presidency The post 4 Top Stock Trades for Tuesday: MJ, NWL, CIIC, BNGO appeared first on InvestorPlace.

What are stocks, especially small-cap stocks, worth these days? No one knows. Which is why discipline will soon return to the market, says Cody Willard.

The Canadian pot grower reported a bigger net loss than analysts had expected, while sales fell short.

Jim Cramer, host of CNBC's “Mad Money,” on his show on Wednesday described markets as on uncertain footing to say the least.

The major indices finished with mixed results on Tuesday as the stimulus picture starts to crystalize. Cannabis-related stocks were another story.

Marijuana stocks have surged this year as investors anticipate wider acceptance of legal distribution of recreational products in the U.S. Your best way to ride this wave may be through exchange traded funds. Recent coverage includes efforts by Senate Majority Leader Chuck Schumer to introduce legislation for the federal legalization of marijuana and New York Gov. Andrew Cuomo’s drive toward legalization in his state.

In this article, we will discuss the 13 best hemp stocks to buy now. If you’re in a hurry, click to skip ahead to the 5 Best Hemp Stocks to Buy Now. Weedmaps define Hemp as “A dioecious plant, which means it can be separated into male and female plants. These plants have served a […]

Oil settled near one-year highs Wednesday and clean energy received more attention too, helping to keep most of the major indices rolling.

Shares of Tilray Inc. surged 3.6% in premarket trading Tuesday, after the Canada-based cannabis company said it has been selected by France's National Agency for the Safety of Medicines and Health Products (ANSM) to provide medical cannabis products for experimentation. Tilray said it will supply the medical cannabis, starting in the first quarter of 2021, for the duration of the French experiment, which is expected to last for 18 to 24 months. The cannabis will be exported to France from Tilray's facility in Portugal. "Today's announcement marks another milestone for Tilray as we expand operations in Europe," said Tilray Chief Executive Brendan Kennedy. "We are proud to be able to offer access to a variety of high-quality, pharmaceutical-grade medical cannabis products to the ANSM while supporting patients in need in France." Tilray's stock has soared 193.3% over the past three months through Monday, while the ETFMG Alternative Harvest ETF has rallied 68.5% and the S&P 500 has gained 13.4%.

The U.S.-listed shares of Aphria Inc. shot up 17% in midday trading Thursday toward a more-than two-year high, after the Canada-based cannabis company reported a surprise fiscal second-quarter adjusted profit and revenue that rose above forecasts, citing strength in its global cannabis and consumer packaged goods businesses. The net loss for the quarter to Nov. 30 widened to C$122.0 million ($96.3 million), or 42 cents a share, from C$8.2 million, or 3 cents a share, in the year-ago period. Excluding non-recurring items, the company swung to EPS of 1 cent from a loss of 19 cents, beating the FactSet consensus for a per-share loss of 3 cents. Revenue rose 33% to C$160.5 million ($126.6 million), above the FactSet consensus of C$153.9 million. Adult-use cannabis revenue rose 149% to C$72.1 million. The average selling price of adult-use cannabis rose to C$4.29 per gram from C$4.15 per gram in the previous quarter, while the average retail selling price of medical cannabis fell to C$6.96 per gram from C$7.38 per gram. Shares of Tilray Inc. jumped 19.4%, as the company and Aphria agreed in December to a merger. The stock, which which is on track for the highest close since November 2018, has soared 98.6% over the past three months while the ETFMG Alternative Harvest ETF has climbed 72.4% and the S&P 500 has gained 9.4%.

With Democrats in control of the House, Senate and White House, some sectors will benefit better than others.

Isaac Boltansky, director of policy research at Compass Point Research & Trading, joins Yahoo Finance Live to discuss the winners and losers in different electoral scenarios from the Georgia Senate runoff, as well as the three areas he’s focused on from President-elect Joe Biden’s agenda.

Helped by Election Day results in the U.S., marijuana stocks are experiencing a renaissance of late. It’s not yet a replay of 2018, but plenty of cannabis equities and related exchange traded funds will exit 2020 with their best performances in some time. It’s not just optimism surrounding the incoming Biden Administration and how the president-elect can affect marijuana stocks for the better. On Election Day, every state that had a medicinal, recreational or both initiative on the ballot said “yes.” That includes a group of deeply conservative and swing states, indicating attitudes toward legal cannabis are changing and no longer confined to the likes of California, Colorado and Washington. 7 Undervalued Stocks That Could Soar in 2021 With that in mind, here are the 7 best ETFs for marijuana bulls to buy right now:InvestorPlace - Stock Market News, Stock Advice & Trading Tips Alternative Harvest ETF  (NYSEARCA:MJ) AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) AdvisorShares Pure Cannabis ETF (NYSEARCA:YOLO) Amplify Seymour Cannabis ETF (NYSEARCA:CNBS) Cannabis ETF (NYSEARCA:THCX) Global X Cannabis ETF (NASDAQ:POTX) Cambria Cannabis ETF (CBOE:TOKE) While things are looking up for the U.S. cannabis market, there are still plenty of risky equities in the space, many with small price tags and even more diminutive upside prospects. In other words, stock picking in this arena is difficult, which explains why many investors prefer exchange traded funds. Best ETFs For Marijuana Bulls: Alternative Harvest ETF (MJ) Source: Shutterstock Expense ratio: 0.75% per year, or $75 for a $10,000 investment The Alternative Harvest ETF, the original ETF dedicated to marijuana stocks, is back in style as it recently marked $1 billion in assets under management. That’s a prestigious mark for any ETF, particularly a thematic fund like MJ. Although it’s still saddled with a double-digit year-to-date loss, MJ is proving sensitive to the aforementioned political tailwinds in the U.S., as the ETF now sports a fourth-quarter gain of 40.26%. More recently, MJ got a bit of boost on news of Aphria (NASDAQ:APHA) targeting rival Tilray (NASDAQ:TLRY) for a merger. Those two stocks combine for nearly 17% of MJ’s roster. With 82.1% exposure to the U.S., according to issuer data, MJ should benefit as cannabis laws here liberalize. However investors should scrutinize this exposure because the bulk of the fund’s biggest components aren’t U.S. growers. Rather they’re Canadian firms waiting on their moment south of the border. AdvisorShares Pure US Cannabis ETF (MSOS) Source: Shutterstock Expense ratio: 0.74% per year Speaking of exposure to U.S. growers, also known as multi-state operators (MSOs), the AdvisorShares Pure US Cannabis ETF is the first ETF with an explicit focus on the U.S. weed market. With its September 1 debut MSOS was the only new cannabis ETF to come to market this year, but it has proven investors want MSO allocations, as highlighted by $183.45 million in assets under management. That makes this one of the year’s most successful rookie thematic ETFs. Beyond that superlative, the new fund has confirmed the benefits of its domestic focus, returning 44.3% since inception. Plus, as an actively managed ETF MSOS dodges index constraints, allowing it to feature exposure U.S. growers, most of which trade over-the-counter (OTC). OTC stocks are usually ignored by traditional equity indexes. 7 Undervalued Stocks That Could Soar in 2021 In addition to a 58.4% weight to MSOs, the AdvisorShares ETF features exposure to six other industries, including real estate, financial services and cannabis pharmaceuticals producers. The fund is a solid idea for investors seeking smaller marijuana stock exposure, as mid and small caps combine for 86.8% of the roster. AdvisorShares Pure Cannabis ETF (YOLO) Source: Shutterstock Expense ratio: 0.75% per year The AdvisorShares Pure Cannabis ETF is the older stablemate to the aforementioned MSOS, and like its new counterpart, YOLO is actively managed. In fact, YOLO was the first actively managed weed ETF ever. While active fund managers consistently encounter difficulty beating benchmarks to justify their high fees, YOLO proves active management can and does work in the cannabis space, up 41.77% year-to-date. That performance is good enough to make YOLO one of best-performing marijuana ETFs, and flexibility is one of the reasons behind this fund’s impressive showing. YOLO allocates 61.5% of its weight to domestic marijuana stocks, including many of the OTC names dwelling in MSOS. But YOLO’s exposure to those names is synthetic and comes by way of derivatives. Dan Ahrens manages both MSOS and YOLO and “believes today’s new era can be viewed in similar regard to post-Prohibition, commencing a growing acknowledgement and understanding of cannabis and its uses among a mainstream audience. The industries that comprise the multi-billion dollar cannabis universe represent a new frontier, where proper caution and due diligence must be exercised surrounding its regulations and risks, in seeking attractive long-term cannabis investment opportunities,” according to AdvisorShares. Amplify Seymour Cannabis ETF (CNBS) Source: Shutterstock Expense ratio: 0.75% per year The Amplify Seymour Cannabis ETF is also actively managed, run by Seymour Asset Management’s Tim Seymour, a regular on CNBC’s “Fast Money” program. One benefit of CNBS, made evident by a 34.51% year-to-date gain that far outpaces passive rivals, is an emphasis on purity. This fund doesn’t hold derivative plays or tobacco stocks, only those that derive “80% of the portfolio companies with 50% or more of their revenue from the cannabis and hemp ecosystem,” according to the issuer. The bulk of CNBS’s holdings are retail, pharmaceuticals, cultivation firms or makers of cannabis-infused products or real estate names, as well as providers of agricultural technology or companies engaged in cannabis finance, technology and manufacturers of consumption devices. 7 Undervalued Stocks That Could Soar in 2021 CNBS holds 24 stocks, with $26.78 million in assets under management. The fund debuted in July 2019. Cannabis ETF (THCX) Source: Shutterstock Expense ratio: 0.70% per year The Cannabis ETF is one of the more cost-effective cannabis ETFs and a straightforward approach to the favorable regulatory environment setting up in the U.S., Mexico and other countries. And that much is reflected by fourth-quarter gains of 48% for THCX. “To put the opportunity into perspective, the global cannabis market is estimated to reach $630 billion by 2040 up from $12 billion today,” according to the issuer. THCX holds 29 stocks across eight industries with a median market capitalization of $204.2 million, indicating the fund tilts toward the smaller side of the marijuana stock universe. The fund features some exposure to British equities, but the U.S. and Canada are the markets that will chart the course for THCX. Global X Cannabis ETF (POTX) Source: Shutterstock Expense ratio: 0.50% per year The Global X Cannabis ETF, which tracks the Cannabis Index, has at least one thing in its favor: With annual fees of just 0.50%, it’s almost the least expensive fund in this category. POTX has a concentrated lineup of 18 stocks and, like many of its passive peers in this space, is heavily allocated to Canadian marijuana stocks. That country accounts for over 78% of the fund’s geographic exposure. To that end, POTX levered to growth north of the border and in the medicinal marijuana trade because pharmaceuticals and healthcare facilities combine for 93% of the ETF’s roster. The upside of that is some POTX components do offer investors avenues to growth in the U.S. and there is plenty of growth to be had in the cannabis market. 7 Undervalued Stocks That Could Soar in 2021 “Considering only ten years ago recreational cannabis was illegal in all 50 states, these results present a nationwide push to relax cannabis’ laws,” according to Global X research. “After these initiatives, 33% of the population will have access to legalized cannabis for adult use and 70% of all states have legalized cannabis for medical use.” Cambria Cannabis ETF (TOKE) Source: Shutterstock Expense ratio: 0.42% per year Two big things to like about the Cambria Cannabis ETF. First, it’s actively managed. Second, that annual fee of 0.42% is cheap by the standards of any actively managed fund, and the lowest in the cannabis ETF category. There’s another perk to TOKE being an active fund. It’s area of focus is micro-, mid- and small-cap stocks, groups that lend themselves to benefiting from active management in the marijuana stock landscape. TOKE’s lineup, though concentrated, is diverse at the industry level. Constituents include “companies across a range of market capitalizations that derive a significant portion of revenue from the legal sale, cultivation, production, or provision of cannabis-related products, services, or research,” according to Cambria. Bottom line: TOKE offers value for active management in an asset group where stock picking can be tricky for any investor. On the date of publication, Todd Shriber did not have (either directly or indirectly) any positions in any of the securities mentioned in this article. Todd Shriber has been an InvestorPlace contributor since 2014. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets The post The 7 Best ETFs For Marijuana Bulls To Buy Right Now appeared first on InvestorPlace.

Leading thematic ETF issuer, ETF Managers Group LLC (ETFMG®), announced today that the ETFMG Alternative Harvest ETF, better known as MJ®, has again joined the "billion-dollar club." After less than 3 years of trading on the NYSE, MJ® achieved the impressive milestone of exceeding $1 billion assets under management (AUM) on December 4, 2020.

Cannabis stocks and the ETFs have surged lately on hopes of the legalization of marijuana at the federal level under Biden presidency.

Cannabis stocks have been on fire ever since Election Day 2020, with the ETFMG Alternative Harvest ETF (NASDAQ:MJ) rallying 45% since early November on the idea that a Joe Biden Presidency will pave the path for federal decriminalization and legalization of cannabis in the all important U.S. market. Leading this rally, of course, has been the cannabis industry’s biggest producer, Canopy Growth (NYSE:CGC). CGC stock has surged more than 50% since early November. Source: Shutterstock This optimism is not misplaced. It increasingly appears that the federal legalization of cannabis in the U.S. is a matter of “when”, not “if”. It also increasingly appears that with the right laws in place, legal markets across the globe can and will eventually attract demand away from the black market — and that this legal channel demand will inevitably be rather larger.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Connecting those dots, the global stage is set for the long overdue pot stock boom to finally come to life over the next few years. As it does, CGC stock will stay in rally mode. Here’s a deeper look. Canada Turning a Corner For the last several years, cannabis stocks (right on down to Canopy Growth) have been crushed under the weight of lofty expectations. But now? The tide is turning, and cannabis is about to break through in a big way. 7 Hot Stocks Only Getting Hotter As Winter Approaches Just look to Canada, a country where cannabis market restrictions were eased to form an improved legal framework. That framework is finally pulling demand away from the black market and into the legal market. So what is Canada implementing differently? For starters, they’ve moved retail store openings from a “lottery system” to an “open licensing” model; brought cannabis derivatives, such as edibles and beverages, into the market to meet consumer demand; and slashed the price of legal pot beneath black market street prices. As a result, in the second quarter of 2020, Canada’s legal pot market has now bested its spending in the black market. U.S. Legalization on the Horizon At the same time, U.S. legalization efforts are starting to gain serious momentum. Of the five states with cannabis legalization on the ballot, all five passed it. Even conservative states such as Montana and Arizona have gotten in on the cannabis craze. What’s more, President-elect Joe Biden has signaled that his administration would federally decriminalize cannabis. That’s a significant step towards eventual nationwide legalization. If you’re keeping score, that means Canada’s legal cannabis market is on the cusp of finally coming into its own and the U.S. legal cannabis market is ready to come to life. The stage is set for this struggling industry to shift into hypergrowth, which bodes very well for Canopy Growth stock. Canopy Growth Is an Attractively Positioned Leader Canopy Growth is already the unrivaled leader in the global cannabis market, in terms of market value, sales, product distribution, and production volume. By itself, this early leadership position puts Canopy Growth is a great place to benefit from the rising cannabis tide over the next few years. But Canopy Growth is more than just big. The company also more resources than any other cannabis producer in the world to further extend its dominance. Early on, Canopy Growth leveraged its leadership position to score a huge investment from global alcoholic beverage giant Constellation Brands (NYSE:STZ). Thanks to that big investment, Canopy Growth has more than $1.3 billion in cash and short-term investments on its balance sheet. By comparison, most of Canopy’s peers as so cash strapped that they have major liquidity risks. Thus, Canopy’s big resource advantage means that as the global cannabis market booms over the next few years, Canopy will be able to invest in various emerging growth opportunities while its peers simply try to stay afloat. The result, of course, is that Canopy will be even more dominant player in the cannabis market in five years than the company is today. At the same time, Canopy Growth has taken big steps over the past few years in order to streamline operations, reduce its cost basis, and improve cash flows. This sets the stage for Canopy to be a more profitable producer going forward, meaning that big revenue growth in coming years will flow into big profits, too. Net net, Canopy Growth — and by extension, CGC stock — is attractively positioned to benefit from the coming pot stock boom. Canopy Growth Stock Has Upside Potential The last thing to address here is valuation. My numbers imply that CGC stock is fairly valued around $30 per today. Those numbers assume that the global cannabis market surges to be worth more than $50 billion by the end of the decade, Canopy Growth controls about 10% of that market, and operating margins rise to around 20% (which is roughly where they hover in the alcoholic beverage industry). Those are reasonable assumptions. Indeed, I’d say they are fairly conservative. The global cannabis market could march to $100+ billion in size by 2030. Canopy could control closer to 20% share. Operating margins could pan out around 30%. In other words, my $30 price target on CGC stock should be seen as a conservative price target. If a few things go right for this company, the stock is worth much more than $30. Bottom Line on CGC Stock For years, CGC stock has been a disappointment. That disappointment phase is now coming to a close. What comes next is the hypergrowth phase. During that phase, CGC stock will be a big winner. On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.  The New Daily 10X Stock Report: 98.7% Accuracy – Gains Up to 466.78%.  InvestorPlace’s brand-new and highly controversial newsletter is rocking the industry, delivering one breakthrough stock recommendation each and every trading day delivered straight to your inbox. 98.7% Accuracy to Date – Gains Up to 466.78%. Now, for a limited time, you can get in for just $19. Click here to find out how. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner Radical New Battery Could Dismantle Oil Markets The post Stick With Canopy Growth Stock Below $30 appeared first on InvestorPlace.