According to one cannabis exchange-traded fund (ETF) manager in the US, investors are still making decisions based on misunderstandings in the space.
Dan Ahrens is the managing director and chief operating officer at AdvisorShares and the active manager for the AdvisorShares Pure Cannabis ETF (ARCA:YOLO). Ahrens told the Investing News Network (INN) he is fed up with the misinformation that dominates cannabis investments.
“I think people need to be more educated about (how) all cannabis stocks aren’t the same,” he said.
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Ahrens used his own fund as a direct example of how investors still struggle to differentiate what takes place in the cannabis investment arena.
He expressed frustration at seeing discussions about state-level legalization in the country accompanied by mentions of big cannabis companies that have no option to enter those markets at the moment.
“There’s a great deal of flat out stupidity in cannabis investing out there,” said Ahrens. “And more people need to get educated about investing in the right companies.”
The fund manager is a big believer in the upside attached to the US market at large, but that upside is currently only available to a few names in the cannabis stock universe.
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