Millennial investors love cannabis stocks.
One of the main reasons for this is cannabis is something millennials understand, and can wrap their head around. For decades the usage of cannabis has been seen as a negative, therefore the demand has been grossly underplayed. Young people understand how naive and unaware older generations have been towards how much marijuana is being consumed by millennials.
Many cannabis companies have catered some of their branding towards attracting millennials, but the stats from Robinhood show millennials have gone with the bigger, more well known names like Aphria (APHA) for example. One theory as to why the infamous Aphria short happened was its abundant amount of new millenial investors who would likely get scared easily. If this was their plan, it was a smart one.
Robinhood, a free-trading program popular among younger investors reports three of the four most-added stocks within the previous week were bud manufacturers, for example Aurora (ACB) (+25,051 shareholders), Cronos (CRON) (+18,148 Investors ) and Aphria (APHA) (+9,101 investors ).
Aurora turned into the most-popular inventory on the program concerning the amount of investors that own stocks, outpacing tech giants such as Apple. Cronos was the fifth-most popular title, also Aphria was 38th.
Aurora was ranked 20th on the program on October 25, also Cronos was seventh. Aphria, that was recorded in america on November 2, entered the top-100 through the week of December 13, standing 90th in the moment.
And millennials aren’t only buying individual stocks, they are also snapping up exchange-traded funds which invest in marijuana stocks and businesses who might enter the distance, based on ETF Managers Group, an issuer of exchange-traded funds.
Based on ETF Managers Group’s CEO and creator Sam Masucci, the MJ fund invests in cannabis manufacturers like Cronos, Aurora, Tilray, and Canopy Growth, in addition to businesses that it believes will probably be doing partnerships at the area, including tobacco giant Altria.