The Redwood Marijuana Opportunities Fund is one of the first Exchange Trade Funds (ETF) in the cannabis and industrial hemp industries. The company started trading yesterday in Toronto, Canada under the ticker MJJ. Investors will be able to buy, sell, and short cannabis stocks which in the end aims to create long term capital growth in the cannabis industry.
“Let’s not kid ourselves here: this is a high-risk, high-reward space,” added Mark Noble, Horizons’ senior vice-president of sales strategy. “Your primary way to get protection is through diversification.”
What is an ETF
ETF’s trade exactly like a common stock on any stock exchange, but it contains more liquidity. It is essentially a marketable security that tracks a commodity, bond, index, or a collection of assets like an index fund.
You may be interested
VividGro, a Pegasus Capital Advisors Portfolio Company, Announces Partnership with Merida Capital PartnersEditor - August 17, 2018
Partnership to Focus on Growth in Horticultural and Cannabis Industries VividGro, LLC, a portfolio company of private equity firm Pegasus Capital Advisors (Pegasus), today announced it has…
Harborside to Go Public Via Canadian Reverse Takeover in Deal Valued at C$200 MillionEditor - August 15, 2018
Harborside, a California based cannabis dispensary brand with multiple locations, is planning the reverse takeover of Canadian public company Lineage Grow Company Ltd. (CSE: BUDD). Lineage is…
The City of Los Angeles Has Begun Accepting Applications for Cannabis LicensesEditor - August 15, 2018
At the beginning of this month, the city of Los Angeles finally decided to start accepting license applications from cannabis growers, manufacturers, and testing labs. Although marijuana was…