Financial & Banking Wrap: 11 January 2018

Report: FinCEN Not Consulted on Sessions’ Cannabis Policy Change

Cannabis Payment Solutions Company to Integrate Bitcoin

Maryland credit union to cannabis businesses: We’re open

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Credit Union Offers Banking Services For Cannabis Businesses

 

Title:(Updated) Metatron (MRNJ) releases BitMeet™a Bitcoin Crypto-Currency Trading App and Secure Chat App Vaporized™ on iTunes

Author: Press Release

Date: 10 January 2018

URL: https://globenewswire.com/news-release/2018/01/10/1286897/0/en/Updated-Metatron-MRNJ-releases-BitMeet-a-Bitcoin-Crypto-Currency-Trading-App-and-Secure-Chat-App-Vaporized-on-iTunes.html

Extract: Metatron (OTC:MRNJ), a technology pioneer specializing in the accelerated release of over 2000 apps including Cannaboids™ and Vaporized™ secure chat apps is pleased to announce the release of BitMeet™, a cryptocurrency transaction platform with price tracking and location services available now on Google Play.

 

Title: A cannabis-focused exchange traded fund is soaring as more states legalize marijuana sales.

Author: Investors.com

Date: 10 January 2018

URL: https://www.investors.com/etfs-and-funds/etfs/new-fund-soars-to-record-high-is-cannabis-the-new-bitcoin/

Extract: But it’s not a newly minted ETF. ETFMG Alternative Harvest (MJX) has run up 16.4% so far this year through Jan. 9, according to Morningstar Direct, far ahead of the S&P 500’s 2.8% gain. The fund hit a new intraday high Tuesday. It perked up with a 3% jump Dec. 26, when MJX began trading with a new objective and ticker, and has soared 30% since then.

Before that date, MJX traded under the ticker LARE and was the Tierra XP Latin America Real Estate ETF. In late October, ETFMG notified investors it would change the Latin America index to Prime Alternative Harvest Index and track marijuana stocks instead.

MJX now boasts $317.6 million in assets and owns Canadian pot stocks such as Cronos Group, Canopy Growth and Aurora Cannabis. It also has positions in medical companies such as GW Pharmaceuticals (GWPH), a U.K.-based developer of marijuana-derived drugs to treat cancer and other diseases, and Insys Therapeutics (INSY), whose products target cancer pain.

A handful of tobacco makers including British American Tobacco, Japan Tobacco and Altria Group (MO) round out the 30 holdings in the portfolio.

Since the fund began trading under the new objective and ticker two weeks ago, there isn’t really a track record. It’s currently extended from any buy point. MJX carries a 0.75% expense ratio.

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