2021-04-12 16:06:13
Coming soon: marijuana ETFs in a new ready-made portfolio on the Roobee platform!
Very soon, we'll be adding another portfolio product to the Roobee platform — the 'Evergreen' portfolio that consists of two marijuana ETFs.
While marijuana is still federally illegal in the U.S., 36 states have legalized medical cannabis, and 8 states, including California, have legalized cannabis for recreational use. Canada fully legalized recreational cannabis in 2018. According to the latest surveys, a majority of Americans support legal marijuana.
At the moment, there are lots of medical marijuana companies listed on the stock market. All of them have their strong points, they can operate in different markets and have offices in different countries.
So, how do you make the right choice when you've decided that you want to invest in marijuana?
There are excellent solutions by AdvisorShares and ETFMG — marijuana ETFs. Our new portfolio product which includes stocks of the leading companies in the marijuana industry will soon become available for purchase on Roobee.
The portfolio's name on the platform — Evergreen
The 'Evergreen' portfolio includes two ETFs:
— ETFMG Alternative Harvest ETF ($MJ)
— AdvisorShares Pure Cannabis ETF ($YOLO)
Let's take a closer look at each fund included in the 'Evergreen' portfolio:
ETFMG Alternative Harvest ETF ($MJ)
This fund was the first cannabis ETF listed in the U.S. The ETF seeks to invest in companies involved in the legal business of growing, marketing, and selling cannabis products for medical and recreational use.
Еhe fund’s holdings are dominated by Canadian cannabis companies. MJ’s portfolio is rounded out with investments in other industries like fertilizer and tobacco.
AdvisorShares Pure Cannabis ETF ($YOLO)
The AdvisorShares Pure Cannabis ETF was the second marijuana ETF registered in the U.S. This ETF seeks long-term capital appreciation by investing in both domestic and foreign cannabis equities.
The fund can't invest in companies with operations inside the U.S. unless that company is legal at the federal level. Even with the many regulatory barriers faced by potential issuers of cannabis ETFs, MJ’s success shows us that there is a demand for these products. Unlike $MJ, $YOLO is an actively managed ETF.
The 'Evergreen' portfolio is a potentially useful tool for those who want to gain exposure to the marijuana industry. Over the year, the $YOLO fund has surged by more than 300%
You'll be able to buy the 'Evergreen' portfolio with $BTC, $ETH, $USDT, or a bank card in the 'Marketplace' section of the Roobee platform!
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