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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (32678)	11/1/2017 8:57:53 AM
From: Goose94	Read Replies (1) of 203353

Marijuana Life Sciences Index ETF (HMMJ-T) is the world's first cannabis ETF. ETF holds Insys Therapeutics, which saw trading in pharmaceutical company halted Thursday after its founder was arrested on charges he took part in a scheme to bribe doctors to overprescribe a fentanyl-based pain medication. Trading resumed Tuesday, but the stock has plummeted about 30 per cent since last Wednesday's close, compounding losses from its 2017 peak. Those losses have been a drag on the ETF's returns. However, the situation also highlights a notable risk for the ETF: American firms. While the ETF's Canadian holdings produce actual marijuana, most of the U.S. holdings are heavily involved in non-cannabis business. In turn, as Canadian pot producers have rallied in recent weeks, the fund's U.S. firms have weighed on fund performance. Canadian firms have contributed an average of 1.85 percentage points to the fund's total return since July 4. U.S. firms, which comprise nearly one-quarter of the fund's holdings by weighting, have been a net negative contributor over the same span.

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