MJ - ETFMG Alternative Harvest ETF

NYSEArca - NYSEArca Delayed Price. Currency in USD
25.41
-0.60 (-2.31%)
At close: 4:00PM EDT
Stock chart is not supported by your current browser
Previous Close26.01
Open26.00
Bid25.40 x 800
Ask25.60 x 800
Day's Range25.35 - 26.08
52 Week Range23.01 - 45.40
Volume350,367
Avg. Volume451,445
Net Assets1.02B
NAV26.06
PE Ratio (TTM)N/A
Yield2.65%
YTD Return5.21%
Beta (3Y Monthly)2.19
Expense Ratio (net)0.75%
Inception Date2015-12-03
Trade prices are not sourced from all markets
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    Is Weed The New Beer? 3 Key Stats Give Us An Idea

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  • InvestorPlace

    The MJ ETF Solves Some of the Problems of Pot Stocks — But Not All of Them

    So far in 2019, cannabis stocks have been on a roller coaster ride. Investors are wondering which marijuana companies may be better investments for the long term. If you are interested in buying into marijuana shares, you may also want to take a closer look at the ETFMG Alternative Harvest ETF (NYSEARCA:MJ). The MJ ETF is a marijuana ETF that has about $1 billion in assets under management.Source: Shutterstock Investing in the MJ ETF may enable investors to take a long-term view on a growth industry that is likely to reach tens of billions globally in a decade or two. However, investors in the cannabis sector should also remember how choppy individual stock prices that make up the MJ ETF can be. Mechanics of Investing in the MJ ETFInvestors may be able to decrease the volatility of investing in individual stocks by holding more of them, or better yet, investing in an ETF. And at InvestorPlace, my colleagues often cover how various ETFs can help investors construct a diversified portfolio.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSimilarly, MJ seeks to provide investment results that correspond to the total return performance of the Prime Alternative Harvest Index. This index tracks the performance of U.S. and global companies that are engaged exclusively in legal activities involving cannabis for medical or non-medical purposes. * 7 Great Small-Cap Stocks to Buy MJ's expense ratio is 0.75% per year or $75 annually per $10,000 invested. For many investors, the comfort in owning a basket of stocks might be worth the price.The MJ ETF also pays dividends with a yield of 2.8%. In recent months, this marijuana ETF has become one of the most popular funds among millennial investors.While the MJ ETF is still exposed to the industry risk, it may provide a good option for investors, as it is will likely be more stable than owning some of the individual stocks. Before investing in marijuana stocks, though, it is important to do your due diligence on the MJ ETF. Companies in the MJ ETFCanada is the second country in the world -- after Uruguay -- to legalize recreational marijuana at the federal level. Since then, a number of federally licensed Canadian cannabis producers have started trading on the Toronto Stock Exchange (TSE) as well as the New York Stock Exchange (NYSE).The MJ ETF currently holds 38 stocks with about 70% allocation to pot companies and growers, many of which are Canada-based and that are becoming increasingly mainstream. Several of the major stocks in the MJ ETF include Aurora Cannabis (NYSE:ACB), Cronos Group (NASDAQ:CRON), GW Pharmaceuticals (NASDAQ:GWPH), Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY) and Green Organic Dutchman Holdings (OTCMKTS:TGODF) It also has an allocation of tobacco stocks and fertilizer companies. The top 10 holdings represent about 60% of holdings in the MJ ETF.One fundamental point that investors need to keep in mind is that most of these cannabis producer stocks are not profitable yet. Analysts value them mostly based on the expectation of high revenue growth, which would lead to future profits. Therefore, whenever Wall Street fears the given company is failing to meet growth or expectations, that pot stock will get penalized.While MJ can avoid some of the bad performances of most marijuana stocks, it would be difficult for it to outperform several of its large holdings, such as Cronos Group, Aurora Cannabis and Canopy Growth. Nonetheless, the level of diversification helps make the MJ ETF more robust than any individual stock in the sector, limiting volatility and downside while retaining the exposure to the market's potential upside. Cannabis Industry in Canada is Still in the Early InningsThe lure of higher-than-average returns may be tempting for many pot stock investors. After all, early investors in many of these stocks have been rewarded handsomely.But as the cannabis industry in Canada matures, will the fundamental forces allow for high double-digit returns any more?The recent earnings reports from Canada-based pot stocks are important in gauging the health of the industry. At present, not everyone is convinced that Canadian recreational pot sales will remain strong. Many investors are concerned that the initial hype surrounding the industry could be decreasing.Since legalization in October 2018, Canadian sales numbers have been muted without any signs of increasing. In 2019, the total cannabis market in Canada, including both legal and illegal recreational and medical sales, is expected to be around $7.2 billion CAD. About half of it is likely to come from legal sales. The Canadian market may also be running the risk of being oversupplied. * 15 Growth Stocks to Buy for the Long Haul Is all this capacity truly needed, given that export volumes are not expected to meaningfully offset oversupply, either? If these marijuana companies harvest more than what they sell, there will be higher inventory balances. And simple economics tells us that a supply glut would eventually drive down the price of marijuana along with the margins of these companies. The developments in Canada over the past year has been reflected in the stock price of most of these Canada-based companies, moving investor sentiment from euphoria to greed to fear.Marijuana is illegal in the U.S. at the federal level. However, at the state level, its legal status depends on the laws of the individual state. In other words, the legalized marijuana industry is still in its infancy, even in Canada, and it is almost non-existent globally. None of the Canadian marijuana stocks have so far done any business in these pot-friendly U.S. states, as the listing requirements at the NYSE or NASDAQ as well as at the Toronto Stock Exchange bar companies from engaging in commercial activities in countries where they would be breaking the U.S. federal law. Where Is the MJ ETF Price Now?In the past two years, marijuana stocks have been choppy and highly speculative. Their valuations can and do change suddenly and drastically, both as a result of event-driven company news or developments in the industry.So far in 2019, with the exception of January, when many stocks did well, investors have witnessed considerable bearish activity in the industry. For most cannabis stocks as well as the MJ ETF, it hasn't exactly been such a "hot" summer. And the value of this particular marijuana ETF reflects this volatility. Year-to-date, the MJ ETF is up 5%. After seeing an intraday low of $23.3 on Dec. 24, 2018, it has rallied to a high of $39.25 on March 19. Its 52-week high remains at $45.4, reached on Sep. 19, 2018. Currently it is hovering around $26.Those investors who pay attention to technical charts should note that due to the decline in price since April, MJ ETF has a not-so-pretty technical picture. In the long run, MJ needs to build a base again before a long-term sustained leg up can occur.From a price and time cycle perspective, the high reached on March 19, 2019, which came six months after the 52-week high of Sept. 19, 2018, is likely to be the highest price to be seen in the near-term. And MJ price may see a new 52-week low in Sept. 2019, possibly around $22.5, about a year after the current 52-week high of $45.4. Within the next month, I expect MJ to mostly range-trade between $27.5 and $25.However, in case of a broader market selloff, similar to the one we have witnessed in the last quarter of 2018, the fund may easily go toward the low-$20's level. The Bottom Line on the MJ ETFFor most of the year, I have been bearish on most marijuana stocks. The hype that has led to high valuation levels, their mostly poor earnings and the dependency on the recreational aspects of cannabis make them risky and volatile investments.Given the risk involved with investing in cannabis, no ETF holding pot stocks is going to be completely safe in being able to avoid losses, but MJ offers investors some safety due to diversification.Now that the sentiment has swung negative, contrarian investors may find value in the MJ ETF. However, investors still need to follow developments in the industry closely to evaluate the appropriateness for marijuana stocks for their portfolio.It is important to note that unless legalization at the federal level in the U.S. happens, cannabis market is, for the most part, limited to the growth in Canada. And a limited Canadian market is not likely to help most of these pot stocks become profitable on an operating basis. This fact makes marijuana stock valuations even more difficult to justify. * 10 Cheap Dividend Stocks to Load Up On Therefore, MJ investors should be ready for daily price fluctuations as well as high volatility around the earnings release dates of the marijuana stocks that mostly make up the ETF. Most of these Canada-based weed companies also have high operating expenses. And the red ink at the bottom of their income statements, quarter after quarter, is becoming a worry for shareholders. If the international cannabis market does not grow as expected, then MJ ETF's price could also experience selling pressure.As of this writing, Tezcan Gecgil did not hold a position in any of the aforementioned securities.The post The MJ ETF Solves Some of the Problems of Pot Stocks -- But Not All of Them appeared first on InvestorPlace.

  • Benzinga

    Defying The Odds With A Dream, Some Weed, And A Ton Of Determination: The Inside Scoop On Frank Shamrock

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    A Couple Data Points On The Main Drivers Of Cannabis Stock Investing

    A recent user survey conducted by Investing.com revealed that state legislation regarding marijuana legalization is driving investor interest in pot stocks. Looking into 8 million users across the U.S., they found that investors in states that had legalized marijuana showed the a much greater interest in investing in the substance, with Maine, Massachusetts, Michigan, Alaska and California ranking as the top five states for investor interest. Investing.com's partner on the survey, SEMrush also found a drastic increase in Google searches for pot socks in each of the aforementioned states following legalization, in excess of 100% in most cases.

  • Benzinga

    Global Alliance For Cannabis Commerce Launches In Los Angeles

    Article originally posted on LA Weekly, provided to Benzinga Cannabis by the author. A new national advocacy organization has launched in Los Angeles to advocate and educate lawmakers on the path towards federal cannabis legalization. Mr. Jason Beck, a longtime Angeleno who was born with cerebral palsy and an early medical cannabis patient, spearheaded the creation of the new organization.  The Global Alliance for Cannabis Commerce (GACC) will focus on legislation including, cultivation, manufacture, distribution, public safety, and taxation of medical and adult-use cannabis.

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    Big Opportunities: Michigan Cannabis Market 'Could Easily Eclipse $2B'

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    Cannabis stocks keep getting hammered in what has been one of the worst sell-offs for the sector in the past two years. From speculative upstarts through to the industry leaders, everyone's shares have been wilting. If anything is going to change the mood, however, it could be positive earnings. That seems to be the case with Aurora Cannabis (NYSE:ACB) whose shares popped more than 10% after it gave a sneak peek at its fourth quarter results on Aug. 6. ACB stock, overall, is up 5% this month, compared to a 2.1% gain in the pot-stock exchange-traded fund ETFMG Alternative Harvest ETF (NYSEArca:MJ).The Aurora Cannabis preview of results due out on Sept. 15 finally gave investors a sign that at least one marijuana company is building a more sustainable business. In a world where rivals like Hexo (NYSE:HEXO) and Canopy Growth (NYSE:CGC) keep growing production capacity far in excess of demand while losses mount, Aurora may be set to buck the tide.InvestorPlace - Stock Market News, Stock Advice & Trading Tips On Track to Profitability (Sort of)In its preliminary Q4 results, Aurora surprised the market. It confirmed that production is strong, near the high end of its range. That's not so important though, as there isn't demand for as much marijuana as Aurora is producing. What is important, however, is that Aurora generated more revenue than analysts had expected. This speaks to some combination of either higher profit margins than anticipated, or more sales volume. Either outcome, of course, is a plus for ACB stock. * 10 Cyclical Stocks to Buy (or Sell) Now All this adds up to Aurora being on pace to generate positive adjusted EBITDA for the fourth quarter, which is one type of profitability. But make no mistake, this is still not equal to net income. EBITDA is earnings before interest, taxes, depreciation, and amortization. It's a big positive step for a marijuana company to achieve positive EBITDA. Most aren't even close to it yet. But it's another hurdle to get to profitability.To be sure, Aurora does have plenty of those other costs. It has interest, for example, because it has quietly accumulated a rather sizable debt load. This has led analysts such as Christopher Carey of Bank of America to criticize ACB stock due to its balance sheet and cash burn. Aurora has also pumped out tons of new ACB stock shares to raise money. Its share count is up from around 400 million at the start of 2018 to a billion now. That's some serious dilution. It's a good sign that Aurora is reaching positive EBITDA, but it needs to get to positive net income as well sooner or later, or the share dilution will only get worse. Italy Deal: A Plus, and a MinusRecently, Aurora announced a deal to be the only official supplier to Agenzia Industrie Difesa, an agency of the Italian government. This agency will distribute medical marijuana around the country. Aurora anticipates finalizing the deal next month. Notably, Aurora competed against four other bidders for the contract, but was the only one that could meet all of the government's requirements. * 5 Cheap Stocks to Buy Now That the Fed Cut Rates On the one hand, this deal is a clear positive for Aurora. It's no secret that the Canadian marijuana market is sagging due to massive oversupply. Marijuana producers are all trying to become the biggest and most well-known as fast as possible. But the demand picture hasn't nearly kept up with supply. Legalization didn't unleash unlimited consumer interest. Click to EnlargeSo Aurora has validated its business model of focusing on the global market outside of just the U.S. and Canada. On the other hand, the Italy deal may be way too small to matter. Aurora's contract authorizes it to distribute a minimum of 400 kilos of medical marijuana over the next two years. That's a minimum, so it could be a lot more. But to put 400 kilos in two years in perspective, however, Aurora is now producing nearly 30,000 kilos of product per quarter. It will take a ton of 400 kilo-type deals to mop up that sort of supply. ACB Stock VerdictInitiatives such as the contract in Italy should help differentiate Aurora from its competition. So far, however, Aurora has not achieved that much with overseas dealings. It's only managed $4 CAD million ($3.03 million) or so in quarterly revenues from outside of Canada so far, which puts international sales in the single digit percentage range of the company's entire revenues.At least for now, Aurora remains highly dependent on Canadian sales. And there simply aren't enough consumers to achieve the ambitious growth goals that Aurora and its peers are pursuing within the Canadian market. If Canadian consumption doesn't pick up quickly, other markets need to come online. Otherwise, the sector will keep trading lower.ACB stock is positioned better than many of its peers, as the company's preliminary Q4 numbers demonstrate. But it's hard to get especially excited about any of these Canada-based marijuana stocks until the supply glut starts to reverse itself. Aurora looks better than many of its peers, but the sector is in trouble.At the time of this writing, Ian Bezek held no positions in any of the aforementioned securities. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Aristocrat Stocks to Buy Now No Matter What * 7 Stocks to Buy to Ride the Vegan Wave * 4 Safe Stocks to Buy Amid Trade War Turbulence The post Aurora Cannabis Pulls Ahead of Peers After Sharing a Peek at Q4 Results appeared first on InvestorPlace.

  • Benzinga

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