Cannabis ETF Adds 10 New Stocks: Should You Scoop it Up Today?

The Horizons Marijuana Life Sciences ETF (TSX:HMMJ) was down 1.6% in early afternoon trading on March 20. The ETF has climbed 2.6% in 2018 but peaked in early January. It recently completed a quarterly rebalancing and added ten new companies to its portfolio. Let’s take a look at some of the more interesting additions.

Nuuvera Inc. (TSXV:NUU) is a cannabis company focused on medical cannaboid production and distribution of cannabis products, and is known particularly for its . The stock was trading up 0.51% in early afternoon trading today. In early March Nuuvera completed its acquisition of a 49% interest in ARA-Avanti Rx Analytics Inc. Nuuvera boasts the largest weighting of the new additions.

Abattis Bioceuticals Corp. (CSE:ATT) was also one of the ten companies added. The stock was up 10.9% in early afternoon trading. Abattis is a biotechnology company that saw its stock spike in late December and early January after it reported a breakthrough in its extraction technologies. In late February Abattis acquired a 90% ownership interest in Gabriola Green Farms, a B.C.-based company that has applied for a license to produce.

It also added Neptune Technologies & Bioresources Inc. (TSX:NEPT)(NASDAQ:NEPT), a Laval-based nutrition products company. In November Neptune stated that it was extending its licensing agreement for use of technology in connection with cannabis products. Analysts expect that there is tremendous potential for nutritional and medical markets to expand into the cannabis sector going forward.