Institutional investors have previously avoided investing in cannabis because no federally-chartered banks would hold the stock. BNY has changed that.
An employee holds a display of dried marijuana at the Fire and Flower store as the first legal cannabis stores open in the province of Ontario, in Ottawa, Ontario, Canada, April 1, 2019.BNY Mellon is serving as a custodian bank for a new, actively managed marijuana ETF that trades under the ticker 'YOLO,' the bank confirmed to Business Insider.
The New York-based bank is providing custodial services to a new marijuana exchange-traded fund called the AdvisorShares Pure Cannabis ETF. Launched last week, the actively managed fund will trade under the ticker YOLO. Though YOLO isn't the first marijuana ETF, it's the first New York Stock Exchange-listed marijuana fund that's backed by a major custodian bank.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
BNY Mellon profit misses estimates on lower fee revenueBank of New York Mellon Corp missed analysts' estimates for quarterly profi...
Lire la suite »
This new ETF lets you invest in the rapidly growing, $400 billion space industryThe flood of young companies into the $400 billion space industry is sparking investor interest but there's a common issue.
Lire la suite »
Goldman Sachs' top US ETF trader has left for rival JPMorganAnother senior equities trader has left Goldman Sachs. The firm's head of US ETF trading is going to rival JPMorgan.
Lire la suite »
Goldman Sachs ETF chief breaks down new investment trendThe space for exchange-traded funds is broadening, with major institutions like Goldman Sachs now moving towards factor-based investing. Goldman's ETF chief explains the draw of buying based on appealing characteristics.
Lire la suite »
Watch now: ETF Edge on how 'YOLO' is making a splash in the Cannabis space
Lire la suite »
Cannabis investing's latest bet: A new marijuana ETF with the ticker YOLOThe new AdvisorShares Pure Cannabis ETF, ticker YOLO, allows investors to invest in 'pure plays' in the cannabis space under an actively managed structure.
Lire la suite »
Medicare for All is dragging down health-care stocks and there could be more pain aheadHealth-care stocks suffered a health scare this week. The XLV health care sector ETF tumbled more than 4%, its worst week of the year.
Lire la suite »
Beyond Meat sets IPO terms, to raise $184 million and be valued at $1.2 billionBeyond Meat has set terms for its initial public offering, with the plant-based meat maker expected to raise up to $183.8 million and be valued at $1.21 billion. The El Segundo, Calif.-based company is offering 8.75 million shares in the IPO, which is expected to price between $19 to $21 a share. If the underwriters exercise all the options granted to cover overallotments, the company could raise up to $211.3 million. The company plans to use the proceeds from the IPO to invest in current and additional manufacturing facilities and expand research and development. Beyond Meats will have 57.43 million shares outstanding after the offering. The stock is expected to list on the Nasdaq under the ticker symbol "BYND." The company is looking to go public at a time that the Renaissance IPO ETF has run up 29% year to date and the S&P 500 has gained 16%.
Lire la suite »
Fastly files for IPO, with class A shares to list on NYSEFastly Inc. has filed Friday for an initial public offering of class A shares. The "edge cloud" platform company, which allows developers to deliver digital experiences "at the edge of the internet," hasn't determined the number of shares it will sell. Fastly will have a dual class share structure, with class A shares entitled to one vote and class B shares entitled to 10 votes. The company has applied to have its class A shares listed on the New York Stock Exchange, under the ticker symbol "FSLY." Fastly recorded a net loss of $30.9 million on revenue of $144.6 million in 2018, after a loss of $32.5 million on revenue of $104.9 million in 2017. The lead underwriters of the IPO are BofA Merrill Lynch, Citigroup and Credit Suisse. The company is looking to go public at a time that the Renaissance IPO ETF has rallied 29% year to date and the S&P 500 has gained 16%.
Lire la suite »
This new ETF lets you invest in the rapidly growing, $400 billion space industryThe flood of young companies into the $400 billion space industry is sparking investor interest but there's a common issue.
Lire la suite »
Trump administration says immigrants working in legal marijuana industry lack ‘moral character’ for citizenshipFederal officials issued a guidance Friday clarifying that working with or using marijuana could be grounds for losing the chance for citizenship.
Lire la suite »