The marijuana-themed exchange–traded fund, recently launched by the Horizons ETF Management, seems to have hit the jackpot. In its first four sessions of trading in April, it registered a surge of 9.9 percent with its fund increasing by 17.8 percent.
In anticipation of a positive move, Canadian marijuana companies are vying to tap the capital markets to fund expansion plans, as they expect Prime Minister Justin Trudeau’s government to unveil a law in 2018 proposed for the legalization of the drug. The Horizons ETF Management fund witnessing heavy trading volume is only going to reinforce their belief.
The fund proved to be the most popular one for Horizons ETF Management, as the medical marijuana fund has raked in more than $28.2 million in assets, says the company. By far, it remains the most popular fund launched by it this month. Now, its closest rival is the JP Morgan Global Bond Opportunities ETF at $25.1 million in assets.
With the investors getting comfortable under their skin to dabble with marijuana, and the federal government aiming to make the drug legal by next year, such funds and trading are only going to rise in the coming months. Medical marijuana companies will surely tap the bond markets the world over to fuel growth.
Looking at the fact that cannabis companies are now flush with funds, it is possible that the market would move in this direction in the future. Changing social attitudes has also caused this shift in people’s views toward marijuana. All these are helping the market thrive and one can only see a swell in such bonds and funds. Billions of amount are used on cannabis every year. In the United States, marijuana sales were expected to top $6.7 billion in 2016, up 25 percent from a year earlier.
Flirting with marijuana may cost people heavily, as the drug is addictive and its use can cause a slew of health effects, affecting both the body and the brain. Even the world seems equally divided on the use of the drug. The debate over legalization of marijuana is not new, and both the factions have their reasons to denounce or acclaim the drug.
However, from a medical point of view, marijuana when used for recreational purposes, can be addictive, and in the U.S., it is the most commonly used illegal drug. According to the Centers for Disease Control and Prevention (CDC), there are roughly 22.2 million marijuana users in the U.S. The drug is known by different names like weed, pot and cannabis.
Among teens, marijuana use can lead to impaired brain development and poor performance in academics. So legalizing the drug for recreational purposes is definitely going to have some negative impact on the people, especially the younger generation.
When a person gets addicted to marijuana or any other illicit street drug or alcohol, timely and proper treatment is the only option. The future is undeniably bleak for those who refrain from seeking treatment for addiction. Treatment can help an individual gain complete sobriety so that he or she can lead a normal healthy life.
If you have a loved one grappling with an addiction and are looking for drug addiction rehab centers, contact the 24/7 Recovery Helpline. Call at our 24/7 helpline number 855-441-4405 or chat online for immediate assistance. One should not delay treatment or things can get of hand.