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AdvisorShares, managing over $1 billion in cannabis ETFs, highlights pending historic reforms in the US cannabis market. Key catalysts include:
- Federal cannabis rescheduling from Schedule I to Schedule III, potentially removing tax burdens for multi-state operators (MSOs)
- Upcoming state ballot initiatives in North Dakota, Nebraska, and Florida for cannabis legalization
- Bipartisan support for cannabis reform from major presidential candidates
AdvisorShares offers three ETFs for cannabis investment: MSOS (largest cannabis ETF focused on US MSOs), MSOX (leveraged cannabis exposure), and YOLO (global equity cannabis ETF). The company remains optimistic about significant progress toward cannabis reform but acknowledges potential delays in implementation.
AdvisorShares has announced that options for the AdvisorShares MSOS 2x Daily ETF (Ticker: MSOX) are now available for trading as of February 7, 2023. MSOX aims to provide daily investment results that correspond to two times (2x) the daily total return of the AdvisorShares Pure US Cannabis ETF (Ticker: MSOS). Designed for sophisticated investors, MSOX offers magnified exposure to the U.S. cannabis market, facilitating short-term trading with increased buying power. Since its inception in September 2020, MSOS has emerged as a major player among actively managed cannabis ETFs, focusing on U.S. companies involved in the legal cannabis sector.
On February 7, 2023, AdvisorShares announced the listing of options for its AdvisorShares MSOS 2x Daily ETF (Ticker: MSOX). This ETF aims for daily investment results that correspond to two times (2x) the daily total return of the AdvisorShares Pure US Cannabis ETF (Ticker: MSOS). Designed for sophisticated investors, MSOX provides magnified exposure to the U.S. cannabis sector, specifically appealing for short-term trading. AdvisorShares launched MSOS in September 2020 as the first U.S.-listed active ETF focused solely on American cannabis companies, which has since become the largest publicly traded cannabis fund globally.
On November 17, 2021, Poseidon Investment Management launched the AdvisorShares Poseidon Dynamic Cannabis ETF (Ticker: PSDN), enhancing its cannabis investment offerings. With $196 million in assets under management, this actively managed ETF focuses on companies poised to benefit from the U.S. and global cannabis markets. Co-founded by Emily and Morgan Paxhia, PSDN aims to leverage market opportunities through dynamic management. It joins other cannabis ETFs by AdvisorShares, including MSOS and YOLO, appealing to investors seeking exposure in this rapidly evolving sector.
On November 16, 2021, AdvisorShares launched the Poseidon Dynamic Cannabis ETF (Ticker: PSDN), set to commence trading on November 17, 2021. The ETF aims for long-term capital appreciation by investing in companies poised to benefit from the cannabis industry globally. PSDN is sub-advised by Poseidon Investment Management, renowned for its expertise in the cannabis sector. This new ETF complements existing cannabis-focused ETFs, MSOS and YOLO, within AdvisorShares' portfolio, emphasizing a dynamic management approach to optimize returns.
AdvisorShares, a prominent sponsor of actively managed ETFs, announced that the AdvisorShares Pure US Cannabis ETF (MSOS) has exceeded $1 billion in assets under management within six months of its launch on September 2, 2020. This ETF focuses solely on U.S. cannabis companies, including multi-state operators. The fund, started with $2.5 million, seeks long-term capital appreciation. AdvisorShares also highlighted its sister fund, the AdvisorShares Pure Cannabis ETF (YOLO), which has gathered over $465 million in assets since its inception in 2019.
Subversive Capital Acquisition Corp. (SCAC) announced progress towards its Qualifying Transaction, acquiring CMG Partners, Inc. (Caliva) and Left Coast Ventures, creating TPCO Holding Corp. (The Parent Company). SCAC secured US$34.5 million in non-redemption agreements and raised over US$100 million for growth. Anticipated to close by January 15, 2021, the deal positions The Parent Company as California's largest vertically-integrated cannabis firm, leveraging Shawn "JAY-Z" Carter's influence for brand strategy. The transaction aims to enhance market share, profitability, and social equity initiatives.
Subversive Capital Acquisition Corp. has launched the largest cannabis SPAC and is in definitive agreements to merge with The Parent Company, involving notable figures like Shawn 'JAY-Z' Carter. A live presentation is scheduled for January 7, 2021, at 3:00 p.m. ET. The Parent Company aims for combined pro forma revenues of $334 million in 2021, with a strong cash position of $575 million to drive growth. The merger forms a vertically integrated cannabis platform, expanding market reach in California and focusing on social equity initiatives.
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