Amplify ETF CEO Christian Magoon is excited about his company's newest product, the Amplify Seymour Cannabis ETF (CNBS) because he believes that his company's basket of cannabis plays will provide the stability cannabis investors currently lack.
Portfolio manager Tim Seymour updates the ETF daily, giving passive investors some security in a fluid cannabis investment environment.
"Tim is most known for his time on fast money over the last 10 years. He's got the nickname of king cannabis because he really started covering cannabis stocks several years ago. He's an early stage cannabis investor, both in public and private markets. And we think he's the most highly experienced professional to manage an ETF that can adjust its portfolio on a daily basis," Magoon said.
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The ETF ranges between 25 and 50 stocks depending on market conditions with at least 80% or more of the basket being comprised of companies who generate at least 50% of their revenue from cannabis and hemp activities.
Check out the video above for the full interview.