MJ, older members would know where those initials came from, my guess Mary Jane:)
This ETF has been traded since December 2015 but only recently, with the success of the legalization movement and successful emergence of CBD has it entered the mainstream. The stock universe it covers is surprisingly diverse: growers, suppliers, real estate, marketers, R&D, pharma etc. and the industry has very active social media presence and in addition there is a certain pie-in-the-sky aspect to marketing the investment.
One would think that with all the positive developments, mergers, etc. the price would be closer to the last 12 month's high of 45.40 then the low of 23.01 but that is not the case. The under performance is due no doubt to the volatile and shifting nature, lack of financial maturity of the ETF's holdings which will improve over time.
I like to trade it, it is volatile, it is an uncorrelated asset at the moment and the option volatility of MJ is higher then most other ETF's.
Right now after an orderly down move my 65 min. charts are showing a counter trend buy setup but it has to trigger.
I have various option spreads on with bullish bias, some further out, expecting more up then down movement in the coming months.