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Opinions David Cockfield
Horizon's Medical MarijuanaHMMJ.TOWAITMay 18, 2017
David CockfieldStock price when the opinion was issued
As of Jun 19, 2026. Market Open.
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This asset class has been down for 5 years during a long period of investor apathy. But when an asset class has been down for longer than 3 years, you start to consider it. HMMJ has US exposure where there is growing public support for legalizing canopy. Maybe start with a small position. This is a volatile sector.
HMMJ vs. HMUS. A monstrous opportunity, but you're going to suffer volatility. Go slow, get in over time, and keep it to a smaller proportion of your portfolio. Market weighted. The US exposure is to companies operating legally, and there can't be any recreational use. With HMUS, you're tapping into a bigger market. For example, Charlotte's Web is planning to sell CBD infused products through Kroeger. This scale dwarfs the whole Canadian market. Valuations are high because of the growth potential. If you're a marijuana investing aficionado, you'd want to own both.
Had a hard look at this ETF. There are some fairly well-established companies, plus a whole bunch of little guys. Apparently, in some of the smaller companies, the principals have been busily selling their shares as fast as they can. The worst thing you can see in any situation is people actually stepping back and selling their shares. Stay back until the dust settles a little. See what the regulations will be.