Amplify To Liquidate Cannabis-Focused MJUS ETF As Regulatory Uncertainty Weighs On Sector
Amplify ETFs announced Wednesday that it plans to liquidate the Amplify U.S. Alternative Harvest ETF (NYSE:MJUS), with trading set to end Jan. 27.
The Amplify U.S. Alternative Harvest ETF has a significant allocation to cannabis-related companies like Green Thumb Industries (OTC:GTBIF) and Curaleaf Holdings (OTC:CURLF). The fund’s price has eroded more than 50% over the last year as the cannabis sector continued to struggle with regulatory issues.
This uncertainty has weighed on cannabis stocks, as reflected in the 45% decline in the AdvisorShares Pure US Cannabis ETF (NYSE:MSOS) in 2024.
Shareholders will receive a final cash distribution, based on the fund’s net asset value …