Horizon's Medical Marijuana (HMMJ.TO) Buy,…

Horizon's Medical Marijuana (HMMJ.TO)

7.32

-0.14 (1.81%)

as of Sep 29, 2026, 7:59:40 pm Market Open.

114 watching

BUY

HMMJ vs. HMUS. A monstrous opportunity, but you're going to suffer volatility. Go slow, get in over time, and keep it to a smaller proportion of your portfolio. Market weighted. The US exposure is to companies operating legally, and there can't be any recreational use. With HMUS, you're tapping into a bigger market. For example, Charlotte's Web is planning to sell CBD infused products through Kroeger. This scale dwarfs the whole Canadian market. Valuations are high because of the growth potential. If you're a marijuana investing aficionado, you'd want to own both.

COMMENT

Any vice will do well, and so will this. Horizon makes great ETFs. That said, ETF's aren't always the best. Instead of buying the weed basket, buy the leader--Canopy.

DON'T BUY

Companies on this don't have any earnings. With out earnings he doesn't want it.

COMMENT

How does this pay a yield if weed stocks don't? It does pay a dividend, perhaps from capital gains from buying and selling those weed stocks within the ETF. He doesn't think cannabis will be an exciting industry, but will wind up like the liquor business.

BUY ON WEAKNESS

This has the potential for massive growth in 20 years considering the medical applications of cannabis, but this space also has massive volatility. Buy during large declines and tiptoe in. Society is in the process of accepting marijuana. This is a sea change now.

COMMENT

There is some downside pressure on HMMJ-T. At the $14 or $17 range there is resistance. Who knows what the effect would be if the government changes in October. [Caller asked about TLRY] He sees $34 as a target on TLRY-T as there is nothing to hold it higher.

WAIT

X-dividend date coming up. After the next economic downturn, this will be a sector to invest in and forget it for a decade. At this point he does not see it goes above the recent highs. Don't invest in it now. You might trade it.

COMMENT

This has attracted A LOT of interest, but inflows into cannabis have plateaud. There's lots of speculation and uncertainty, though it's an interesting space. Definitely, cannabis is not a core holding of his. It's typically to see extreme moves in this ETF and sector. This charges an 0.87% MER. Also consider the smaller SEED-T.

DON'T BUY

Exercise caution. Big move in the underlying companies, so you're always susceptible to a pullback. Shift focus more to the US, where you can get more reasonable valuations. US market is 10x what Canada's is. Money spirals in, and out, of these ETFs. Tough to justify valuations in Canada right now. It's a psychology trade.

COMMENT

He is not an expert in cannabis. There will be real industry going forward and some companies will prosper in the long term. The valuations still remain excessive. If he were to participate it would be with Canopy Growth as they have a connection with Constellation Brands in the US.

BUY ON WEAKNESS

Cannabis. Momentum was stalling in September. There is a short term bounce but there will be choppiness in the short term. He would pick away at these names during this period. The longer term trend is up.

COMMENT

Short selling: He has not done much short selling in this space. He tends to be long. If he was going to do it, this would be the vehicle to do it with. There would not be any M&A risk.

RISKY

It is been a ridiculously volatile space. The whole sector is very expensive. Very early inning of the industry. This is a decent way to dip your toe in the sector. Volatile above and beyond what normal equity markets are.

DON'T BUY

It is a great play on the space. He noticed that in the last few months there has been a lack of new capital going into it so people must be trying to pick a winner. He cautions that the space is going to be very volatile over the next 6 months.

BUY

He is into macro trends and themes. So, this doesn’t fit his strategy. But he thinks it is a good ETF. It pays a dividend because it lends shares he thinks.

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Horizon's Medical Marijuana (HMMJ.TO)