IIPR - Why I'd Avoid These Marijuana ETNs Like the Plague
You can count the number of exchange-traded funds (ETFs) focused on the cannabis industry using your fingers. Until a couple of weeks ago, though, there weren't any marijuana exchange-traded noted (ETNs), which, unlike ETFs, don't hold positions in stocks but instead are unsecured debt securities issued by a financial institution.
Now, though, there are two marijuana ETNs available on the market: the MicroSectors Cannabis Index ETN and the MicroSectors Cannabis 2X Leveraged ETN. I'd avoid both of these new ETNs like the plague. Here's why.
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