A leveraged ETF that gives investors exposure to the American cannabis industry looks set to soar following President Donald Trump’s executive order directing the easing of federal restrictions on the psychoactive substance.
The AdvisorShares MSOS Daily Leveraged ETF (NYSE:MSOX), as the name suggests, is a leveraged fund that gives investors exposure to two times the daily total return of the AdvisorShares Pure US Cannabis ETF (NYSE:MSOS), which is seeing a lot of activity amid this major regulatory shift.
Marijuana ETF Sees Surge In Momentum Score
The Momentum score in Benzinga’s Edge Stock Rankings indicates the strength of a stock relative to all other stocks, calculated based on price movements and volatility, across multiple time frames, before being ranked as a percentile against others.
See Also: InterCure May Be Uniquely Positioned as Trump’s Cannabis Rescheduling Returns to Headlines (NASDAQ:INCR)
1. AdvisorShares MSOS Daily Leveraged ETF
The AdvisorShares MSOS Daily Leveraged fund has witnessed a surge in its Momentum score, from 25.11 to 80.25, within the span of a week. This comes amid growing speculations surrounding Trump’s order, which began several weeks ago, leading to a rally across several prominent cannabis stocks.
The fund, however, witnessed a steep 50.59% pullback on Thursday, following a 26.91% drop in the main fund, owing to the lack of clarity on banking remains in Trump’s executive order, which the industry had expected.
The fund has a high Momentum score in Benzinga’s Edge Stock Rankings, but has an unfavorable price trend in the short, medium and long term. Click here for deeper insights into the stock, its peers and competitors.
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