Up In Smoke - MJ burning down
A great 2x inverse ETN for this recession is MJIN, which is opposite of MJXL. By early morning of June 8, SMG reported less expected FY22 earnings, sales & profits. This largely affects weed ETFs due to heavy use of their products for growing, as we can see the spike here shortly after the news broke. In this case, due to rising inflation across the economy, most cannabis users will likely go underground to unregulated markets to find somewhat cheaper MJ. So take this ETN & get high.
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