The cannabis company is getting a boost as it will now be available for trading on the NYSE
Clever Leaves Holdings Inc. is one of the largest multi-national legal and licensed producers of pharmaceutical-grade cannabinoids on the planet. That should prove to be enticing to investors, as it has just announced that it has been added to a cannabis-focused exchange-traded fund (ETF), the Cannabis ETF, which trades on the New York Stock Exchange under the ticker symbol THCX.
THCX provides access to various cannabis industry sub-themes, which now include Clever Leaves’ operations that offer pharma-grade products out of Columbia and Portugal. Kyle Detwiler, CEO of Clever Leaves, said this week, “As one of the few global cannabis operators, inclusion in the Cannabis ETF will allow us to reach a much broader group of investors who are interested in the value that our multinational platform offers. This milestone comes at the perfect time as we continue to expand our operations and distribution across five continents.”
Clever Leaves is a multi-national company that focuses on the development of ecologically sustainable, large-scale cultivation and pharmaceutical-grade processing. It has a large and established distribution network and global footprint, with operations and investments in the US, Canada, Colombia, Germany and Portugal, with a foundation built upon capital efficiency and rapid growth.
ETFs are similar in many ways to mutual funds, except that ETFs are bought and sold throughout the day on stock exchanges while mutual funds are bought and sold based on their price at the day’s end. The THCX ETF follows the Innovation Labs Cannabis Index, which tracks 31 stocks that are poised for growth as the legal cannabis and CBD industries continue to expand.