Amplify ETFs will liquidate its U.S. Alternative Harvest ETF (MJUS), is a further sign of problems in the struggling marijuana investment sector.
The $70 million fund will stop accepting new investment orders after Jan. 20, with shareholders having until Jan. 27 to sell their positions, according to a Jan. 9 company release. An Amplify ETFs representative did not immediately respond to requests for comment.
Cannabis investment products continued to struggle in 2024 as sector-wide challenges persist, with several marijuana exchange-traded funds ranking among 2024's worst performers. The closure signals deepening concerns for cannabis investors, as federal restrictions and market pressures raise questions about the viability of cannabis-focused investment products.
MJUS joined similar funds like the Roundhill Cannabis ETF (WEED) and AdvisorShares Pure US Cannabis ETF (MSOS) in facing steep declines, with each fund dropping approximately 48% in value in 2024.
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