Experts and market analysts believe that the maturing marijuana industry will see a significant advance in 2021. Momentum is building as political preferences, particularly in the U.S., are shifting toward federal legalization. Some people think M&A activities or consolidation globally could even accelerate.
Choosing individual marijuana stocks is a challenge. Industry giants like Canopy Growth and Aurora Cannabis under-delivered in recent years. Massive cash burns and mounting losses were the standard features of cannabis producers. Fortunately, a marijuana exchange-traded fund (ETF) offers an alternative if you want to secure footing in this shaky sector.
Investors in the Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ) are a happy lot. The marijuana ETF is up an insane 119.8% ($5.55 to $12.20) from a year ago. Had you invested $10,000 on March 9, 2020, your investment would be worth $21,981.98 today.
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