*By Carlo Versano*
Cannabis stocks continued their run Monday on renewed speculation that more big-name companies will add pot to their recreation portfolios.
The latest deal ー Canada's Nova Scotia Liquor inking an initial purchase order with pharmaceutical company Tilray ー sent shares of the latter up as much as 30 percent the day before its first earnings report as a public company. The stocks of Cronos and Canopy Growth, which earlier this month earned an investment from Corona-maker [Constellation Brands](https://cheddar.com/videos/corona-brewer-adds-cannabis-to-its-booze-business-in-4-billion-deal), rose too.
Sam Masucci, CEO and co-founder of ETF Managers Group, is trying to give investors a chance to capitalize on such gains.
He joined Cheddar Monday after ringing the opening bell at the NYSE to detail the ETFMG Alternative Harvest ETF, which launched in 2017. The fund tracks nearly 40 foreign and domestic companies that Masucci said may benefit from the production and sale of cannabis, both medicinal and recreational.
The ETF includes companies as varied as Scotts Miracle-Gro (which is developing hydroponics), Canopy Growth, and tobacco giant Phillip Morris.
Companies in Canada, where marijuana will be legalized for recreational sale in October, make up 40 percent of the basket of stocks, with 20 percent coming from the U.S.
While marijuana remains a Schedule I drug at the federal level in this U.S., legalization has gained serious momentum on a state basis.
Masucci said this fund is intended to capture some of that growing bipartisan acceptance and make a bet that medicinal marijuana will be legalized nationally.
"I think the federal government is starting to come around," he said.
A [market report](https://www.prnewswire.com/news-releases/data-shows-medical-cannabis-could-reach-usd-19-billion-in-sales-by-2027-807442325.html) released Monday predicts medicinal marijuana sales will hit $19 billion domestically within the next decade, with worldwide legal spending on cannabis reaching $57 billion.
That's the kind of upside exposure Masucci said he wanted to deliver to investors with the creation of the first "pure play" cannabis ETF.
For full interview [click here](https://cheddar.com/videos/legal-pot-business-booming).
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
At the core of the ongoing government shutdown is a fight over the decision to end subsidies that let some 12 million Americans get health coverage.
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
