Wacky Backy: eToro to Relaunch Pot Portfolio

eToro, a social trading firm, announced on Friday that it will be re-launching its medical marijuana investment portfolio. The CannabisCare CopyPortfolio (CannabisCare) will go live again on November 1, according to a statement released by the company.

“The demand for investment exposure to the rapidly growing medical cannabis industry is significant, as we saw with the popularity of this fund on launch,” said eToro’s CEO, Yoni Assia. “We’re pleased to be able to offer more investors access to this industry.”

Initially launched in September, eToro shut off access to CannabisCare after less than two weeks, with 1,000 clients having signed up to invest in the portfolio. Now the company says that, following client demand, it will be granting another set of clients access to CannabisCare.

Light it up

According to the statement issued by eToro on Friday, access to the portfolio will be shut again once another 1,000 clients have signed up. On the day that happens, the company will wait until midnight before closing off access to the portfolio - whether that means additional clients will be able to sign up to it, beyond the initial 1,000, is unclear.

Currently, the portfolio is comprised of 10 firms, including medical marijuana growers and pharmaceutical companies. eToro says the companies included in the portfolio were selected by its ‘Investment Committee.’

“Our clients value diversification,” said Assia. “Medical cannabis is a volatile industry and our CannabisCare CopyPortfolio allows investors to diversify their exposure to the sector.”

Pot stocks have become increasingly common over the past couple of years as more and more countries have started to ease restrictions on the possession and consumption of cannabis. Another broker, Markets.com, launched an exchange-traded fund-style (ETF) set of pot stocks just this month.