Does WeBull offer trading in marijuana stocks. Can I buy cannabis stocks, ETF, mutual funds on WeBull?

Cannabis Stocks at Webull

As medical marijuana companies become more mainstream, their stocks are beginning to attract more attention. With a Webull account, you can trade these stocks; and even better, there are no commissions involved. Here’s how to find the stocks at Webull:

First, Install the Webull App on Your Phone

Because Webull is a zero-commission brokerage house, the company does not offer computer platforms. In fact, there isn’t even a website login. Its trading platform is the phone app, which also functions on tablets. The Webull app is compatible with Apple and Android operating systems. As with trades, the app is free of charge.

Next, Run a Scan

After opening the app, tap on ‘Markets’ in the bottom row of icons. Next, select ‘United States’ in the top row to specify U.S. stocks. Although most cannabis companies are located outside the U.S., their ADR’s trade on American exchanges.

After selecting the U.S. as the location, next choose ‘Screener’ in the middle row of icons. This will give you the Webull stock screener. On the front page of the screener, tap on ‘+ Create Screener’ to run a scan with your own variables. Select United States as the region and under sector choices, select pharmaceuticals. When we did this, we received 621 results. Some of these were cannabis companies. It is not possible to search explicitly for marijuana companies, so it helps to know what exactly you’re looking for when going through the results.

A scanner’s results can further be refined by specifying certain criteria, such as volume, P/E ratio, market cap, or technical events, like MACD golden cross.

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Third, Research the Results

Scroll through the results and find the cannabis operations you’re interested in. Tap on a company’s name and you’ll get a Webull profile page. It will show average volume, market cap, news articles, earnings history, analyst ratings, press releases, short interest, financial statements, institutional holdings, and management information. A unique feature Webull offers on security profile pages is commentary from traders.

Webull’s platform also incorporates advanced graphing with several helpful tools. Dual charts can be set up. There are 8 graph styles, some technical indicators, and a few drawing tools.

Stock Example

An example of a weed equity we found in Webull’s search results is Aphria. Trading on the New York Stock Exchange under the symbol APHA, the security has risen over 75% during the past three months. Its market cap is $2.4 billion, and its average daily volume is just over 8 million shares.


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Webull shows an article from CNBC on Jim Cramer’s take on Aphria. The broker’s profile page also displays analyst ratings. The overall consensus is buy based on 11 ratings.

We found recent conference calls from Aphria. There were also financial statements posted showing positive earnings. Commentary on Aphria’s profile page is mostly bullish.

Fund Example

A cannabis ETF that is available for trading at Webull is MJ, the ETFMG Alternative Harvest Fund. Webull’s profile shows net assets of over a billion dollars. The fund is up more than 48% so far in 2019. News articles from MarketWatch show some of the fund’s holdings, which include Tilray, Aphria, Canopy Growth Corp, and GW Pharmaceuticals.

Using Webull’s charting program, we found that the exponential moving average (5-, 10-, and 20-day timeframes) showed that the fund was slightly overvalued.

Placing a Trade

To place a trade for a cannabis stock on Webull’s mobile app, just follow the normal procedure as for any other stock. There’s a blue trade button on a security’s profile page. Tap on this, and you’ll be presented with a graph at the top, buy and sell options below that, a quantity field, and order type (market and limit are the only choices)

Comparison

When judged against some of its rivals, Webull seems to lag behind. For example, the broker doesn’t provide trading in options, and most cannabis companies have open interest on the derivatives market. Furthermore, Robinhood, which is also a commission-free broker, provides trading in options.

Another weakness Webull has in this area is the lack of over-the-counter, Bulletin Board, and pink sheet stocks. Other brokers like Merrill Edge and Schwab do offer these securities, and some cannabis startups will trade on them.

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