Opinions
Terry Shaunessy
Horizons Marijuana US Index ETF
HMUS-N
DON'T BUY
Sep 30, 2019
Cannabis is done. It had a great run. It's over. And American is too fragmented to see federal legalization of weed. Forget this entirely. In the long run, though, cannabis will make money like all vices do.
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Stock price when the opinion was issued
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HMUS vs. HMMJ. 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.
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Now it has gone through a bit of a corrective phase and there is a massive opportunity in the legal and pharma Marijuana in the US. It is expected to grow from 9 billion to 31 billion by 2042. Most US companies domicile on the Canadian stock exchange. There was broad US support for legalization during the election. Go with the US side.
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