Namaste Technologies is added to Horizons Medical Marijuana Life Sciences ETF

The cannabis e-commerce company Namaste Technologies Inc (CVE:N, OTCQB:NXTTF) has been added to the Horizons Medical Marijuana Life Sciences exchange-traded fund, which seeks to replicate the performance of the North American Marijuana Index.

The North American Marijuana Index aims to provide exposure to the performance of a basket of North American public life-sciences companies with significant business activities in the marijuana sector.

Only stocks that meet minimum asset and liquidity requirements are eligible for inclusion. Stocks are rebalanced every quarter according to their market-capitalization and capped so that no single stock can exceed 10% of the weight of the Index when rebalanced.

Read: Namaste Technologies CEO Sean Dollinger fires back after Andrew Left calls the stock a ‘joke’

The stocks with the biggest positions in the ETF now include the British biopharmaceutical company GW Pharmaceuticals and US agribusiness Scotts Miracle-Gro, as well as Canada’s Aurora Cannabis, Cronos Group, Aphria and Canopy Growth. Namaste has just a 0.66% position in the fund.

“Inclusion in the ETF is a major milestone for the company and reinforces our strength as a leader in cannabis e-commerce technology,” said Namaste CEO Sean Dollinger in a statement.

Namaste operates a global cannabis e-commerce platform with over 30 websites in more than 20 countries. Its offerings include vaporizers, glassware, accessories, cannabidiol products and soon medical cannabis in the Canadian market, subject to approval by Health Canada.

Namaste shares added 2.5% to US$2.43 in Wednesday’s afternoon session.

Story by ProactiveInvestors