Cannabis stocks had a terrible fourth quarter as the broader market selloff took cannabis stocks along for the ride into red territory. The Green Market Report Cannabis Company Index fell by 33% in the fourth quarter after a scorching hot third quarter in which stocks jumped over 50%.
One of the most successful cannabis ETFs, The Horizons Marijuana Life Sciences Index ETF (HMLSF) (HMMJ: TSX) and its sister ETF Horizons Emerging Marijuana Growers Index ETF (HMJR:NEO) have rebalanced their portfolios adding new companies to the basket of stocks.
“This has been a difficult quarter for the Marijuana sector, and the slowdown in growth contributed to fewer names being added to HMMJ’s portfolio” said Steve Hawkins, President and CEO of Horizons ETFs. “Long-term, we believe there are still quite a few drivers of growth for the sector, including the growth of global medical marijuana opportunity and continued liberalization of marijuana laws in