Australians *love* these four North American pot stocks that IG Markets just banned
Link copied to
IG Markets may have shied away from pot stocks, but Aussie investors are neck deep in them.
The UK-headquartered broker forced its users to sell holdings in 19 global pot stocks, of which seven where based in Australia, on the back of concerns about involvement in recreational cannabis.
They were Cann Global (ASX:CGB), Creso Pharma (ASX:CPH), Elixinol Global (ASX:EXL), Lifespot Health (ASX:LSH), Stemcell United (ASX:SCU), Bod Australia (ASX:BDA), and eSense-Lab (ASX:ESE).
But among the other 12 were Australians’ favourite north American pot stocks as well: Cronos Group Inc (CRON), Canopy Growth Corporation (CGC), Tilray Inc (TRLY), Aurora Cannabis Inc (ACB).
According to data from US investing platform Stake, Australian investors are most interested in these four marijuana stocks.
They’re particularly attractive to investors aged 24-36 year old.
The 15 ASX pot stocks currently trading are up 16 per cent over the last six months, thanks to triple-digit moves by Elixinol, new listing Ecofibre (ASX:EOF), and Althea (ASX:AGH).
The six IG Markets has banned that are currently trading — Cann Global has been suspended since July 2018 — have returned 4 per cent over the last six months, weighed by doubled digit losses by Stemcell, Lifespot, Bod and eSense-Lab.