Amplify Alternative Harvest ETF

MJ

Market cap $127M

The cannabis sector continues to attract investors seeking long-term growth opportunities in 2026. Although volatility remains high, many marijuana companies are improving operations and cutting costs. At the same time, investors continue watching potential federal reform closely. Rescheduling discussions and banking reform could become major catalysts for the industry.

For marijuana stock investors, the way the industry as a whole progresses determines a great deal for them. For example, no one wants to invest in a struggling industry even if it's been trendy along the way. Now, cannabis has fallen to that path, but it's also what's making this industry one of the hottest sectors in the last 5 years. Legal cannabis has been a long uphill battle in every sense. Legislation and regulatory issues remain the biggest challenges.

After amassing enormous losses over the past five years, cannabis stocks received a much-needed shot in the arm last week when President Donald Trump announced plans to officially reschedule marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA).

Cannabis stocks have seen renewed investor interest as federal policy momentum improves. The most important recent development was the placement of FDA-approved marijuana products and state-regulated medical marijuana products from Schedule I to Schedule III under the Controlled Substances Act.

Companies developing cannabis-based medicines say U.S. moves to loosen restrictions on the drug could unlock private funding and the public markets, ​providing a lifeline to the struggling cannabis industry.

The U.S. cannabis sector continues showing strong long-term growth potential in 2026. The legal market continues to expand across multiple states. In fact, the industry is projected to grow significantly over the next decade. Additionally, more states continue moving toward legalization in some form.

Marijuana-related investments were flying high this morning. Then they reversed course, and quickly.

The rise of Amplify ETFs is one of the more interesting stories in the U.S. ETF industry. Although it only launched its first ETF under that brand in 2016, its founder, Christian Magoon, was a well-known figure in the ETF space long before that.

Amplify Alternative Harvest ETF is upgraded from Sell to Hold after a 33% decline, reflecting improved valuation but persistent sector risks. MJ's structure remains highly concentrated, with over half in CNBS and significant exposure to MSOs and Canadian LPs, driving volatility. Key upside catalysts include potential 280E tax elimination and Canadian cultivation tax reform, but regulatory uncertainty remains high.

Trump's executive order shifts cannabis from Schedule I to Schedule III, and launches a Medicare pilot program for CBD products. Brandon Gomez unpacks what's next, the hurdles ahead and what shifted the President's stance on the drug.