New marijuana ETF hits the block amid pot stocks rally

By Bansari Mayur Kamdar - Subversive Capital Advisor launched its sixth exchange-traded fund – Subversive Cannabis ETF - on Tuesday, just as recent U.S. moves to ease curbs sparked a rallySaltWire's Atlantic regional weather forecast for September 19, 2023 | SaltWire - Subversive Capital Advisor launched its sixth exchange-traded fund – Subversive Cannabis ETF - on Tuesday, just as recent U.S. moves to ease curbs sparked a rally in pot stocks.

"We do not believe a Congress this politically divided will meaningfully act on cannabis at the federal level," said Christian H. Cooper, the fund's portfolio manager, in a note. Cannabis ETFs such as the AdvisorShares Pure US Cannabis and the smaller Roundhill Cannabis ETF have jumped more than 25% each so far this month.

"However, this is a relatively crowded segment with ETFs from AdvisorShares, Amplify, Global X, Roundhill among others offering products with longer records."

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New marijuana ETF hits the block amid pot stocks rallySubversive Capital Advisor launched its sixth exchange-traded fund – Subversive Cannabis ETF - on Tuesday, just as recent U.S. moves to ease curbs sparked a rally in pot stocks. 'We do not believe a Congress this politically divided will meaningfully act on cannabis at the federal level,' said Christian H. Cooper, the fund's portfolio manager, in a note. 'The gains for these thematic ETFs could persist,' said Todd Rosenbluth, head of research at VettaFi.
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