The roller coaster ride for equities ended the week with numbers falling off a cliff at the close. The Dow Jones suffered a weekly drop of 3.8%, the most since September 2011. The year is quickly wrapping and it is increasingly apparent that investors are ready to close the book on 2014. Will we have a Santa Claus rally to provide investors some year-end cheer? Hard to say given the recent weakness in the energy sector. The risks are spreading to other areas, notably witnessed in the recent interest rate increase in high yield debt.
The S&P 500 sold off into the close with a drop of 1.64% to 2,002.
Cannabis stocks suffered this week as buyers continue to be overwhelmed by selling pressure. Today was no different as the MJIC Marijuana Index fell by 5.86% and Benzinga 420 Marijuana Index by 1.9%.
Daily Positive: It is Friday!
Daily Negative: Will broader market weakness add to more selling pressure in cannabis or is selling near its exhaustion for the year?
In sad but very important news, one of the children that has been waiting for access to CBD to treat her epilepsy has passed.
It takes our breath away that people are still being denied access to CBD and that unnecessary suffering continues. There is so much about this story that is absolutely heartbreaking and it deserves the attention and consideration from people who are investing in this industry.
We are true believers in the absolute value of having access to medical cannabis for a range of ailments. If you’re unfamiliar with the potential benefits, or don’t understand the differences between THC and CBD and all of the underlying nuances, take some time to become informed. It is critical to the industry and to the human beings involved that states allow access to patients in need.
Obviously research needs to continue in this area, but in the meantime, when all else has failed, why turn our backs on something that has repeatedly shown to help?