Shares of most cannabis stocks were broadly higher during premarket trade on Wednesday, leading to a rise in the marijuana indices and exchange traded funds. During premarket trade, the ETFMG Alternative Harvest ETF (MJ) rallied 1.7%, after taking in losses over 20% over the past six trading sessions. Keep in mind, the marijuana sector ETF has improved 22% over the past three months through Tuesday, while the S&P 500 (SPX) was down 2.8%.

The ETF holds around 40 stocks, including marijuana producers, pharmaceutical and biotech companies seeking the use of marijuana for medicinal purposes and consumer-oriented companies with an expertise in selling smokable products. The Top 5 Holdings of the ETFMG Alternative Harvest ETF include:

· Aurora Cannabis Corp. (ACB) (ACBFF)

· Canopy Growth Corporation (WEED) (CGC)

· Cronos Group Inc. (CRON)

· GW Pharmaceuticals Plc (GWPH)

· Tilray Inc. (TLRY)

The North American Marijuana Index, tracker of leading cannabis stocks throughout North America, is holding onto gains of 137% over the last year. Even with the pullback seen among the sector, overall it is still outperforming the broad markets. With this in mind, investors continue to seek opportunities in numerous marijuana stocks.

Integrated Cannabis Company (ICNAF) (ICAN.CN) develops, manufactures, and distributes botanically-based consumable products; offering a line of hemp-based CBD, and a THC, nutraceutical infused products under the X-SPRAYS brand. Most recently, the company announced signing a Letter of Intent to acquire all issued and outstanding securities of Colorado-based cannabis leader Critical Mass Industries, LLC, which has over 100 elite cannabis strains and its team will be used by Integrated Cannabis to begin new verticals domestically and internationally.

The company entered into a retail focused collaboration with New Age Farm, Inc. (NF) (NWGFF) to deliver innovative CBD products and education through this fall through pop-up stores in the Denver market. This news followed the announcement that a Letter of Intent was completed for distribution of X-SPRAY products throughout the clinics and doctors’ offices of Empower Clinics Inc. (CSE:EPW) as well as a Letter of Agreement for collaboration on X-SPRAYS products for the Canadian markets with GTEC Holdings Ltd, (GTEC) (GGTTF) a Canadian ACMPR-Licensed Producer.

Cronos Group (CRON) (CRON.TO) is a globally diversified and vertically integrated cannabis company, with a presence across five continents, that operates two wholly-owned Canadian ACMPR-licensed producers: Peace Naturals Project Inc and Original BC Ltd. The company will announce its financial results and hold its Q3 2018 Earnings Conference Call on November 13, 2018.

Recently in regard to R&D, Cronos and Aleafia Health Inc. (ALEAF) (ALEF) recently annouced entering into a joint medical cannabis study to improve the management and treatment of insomnia and daytime sleepiness as well as entering a sponsored research agreement with the Technion Research and Development Foundation of the Technion — Israel Institute of Technology to explore the use of cannabinoids and their role in regulating skin health and skin disorders.

Aurora Cannabis (ACBFF) (ACB.TO) is vertically integrated and horizontally diversified from facility engineering and design, breeding and genetics research, cannabis and hemp production, and distribution. Earlier this week, Aurora officially began trading its common shares on the New York Stock Exchange under the symbol “ACB”.

ICC Labs Inc, a fully licensed producer and distributor of medicinal cannabinoid extracts, recreational cannabis and industrial hemp products in Uruguay and producer of medicinal cannabis in Colombia, annouced yesterday that two leading independent proxy firms both favorably recommended that ICC Shareholders vote for the previously announced arrangement between ICC and Aurora. The agreement details that Aurora will acquire all issued and outstanding common shares of ICC and each ICC Shareholder will receive $1.95 per ICC Share, payable in common shares of Aurora. The consideration to be received by ICC Shareholders represents a premium of approximately 34%.