Euro Weed: Cathie Wood's Impact On Cannabis ETFs, UK's 'Save The Unicorn' MMJ Campaign And More
Portfolio Pulse from Nina Zdinjak
Cannabis ETFs in Europe are shutting down, with Rize Medical Cannabis and Life Sciences UCITS ETF (FLWR) set to close on Dec. 12th after being acquired by Cathie Wood's ARK Innovation ETF (ARKK) in September. The closure is deemed in the best interest of investors. Another ETF, Medical Cannabis and Wellness UCITS ETF (CBDZ), is merging into HAN-GINS Indxx Healthcare Megatrend Equal-Weight UCITS ETF (WELL). In the Czech Republic, a draft bill proposes strict rules on CBD and kratom products. In the UK, MPs are urged to improve access to medical marijuana through the NHS. Ireland is progressing a bill to legalize weed for personal use, and Germany has postponed the final reading of its cannabis legalization bill.

November 20, 2023 | 11:49 pm
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NEUTRAL IMPACT
ARK Innovation ETF (ARKK) acquired Rize Medical Cannabis and Life Sciences UCITS ETF (FLWR) and decided to close it, which may affect ARKK's portfolio and investor sentiment.
The acquisition and subsequent closure of FLWR by ARKK is a strategic move that could have mixed reactions from investors. While it may streamline ARKK's portfolio, some investors might be concerned about the reduction in diversification or the loss of a specific investment opportunity in the cannabis sector. However, the impact is likely to be moderate given the size of FLWR relative to ARKK's overall portfolio.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70