Monday Making History


Stocks got back into the groove today after the long weekend. Initial selling pressure was blamed for the lower than expected jobs report released this past Friday. However, stocks quickly recovered and headed into the black for the day. The S&P 500 closed up 0.68% to 2,081.

Cannabis stocks started the week with some mild bullishness. Early optimism was short lived as selling pressures picked up. However, the space appears to have posted a green day, which is a decent win for a Monday after a holiday.

One of the best parts of being a cannabis investor is being able to witness history in the making on a daily basis. This time it is the announcement of the first cannabis tech IPO with MassRoots (OTC Pink: MSRT) preparing to come online this month. We are grateful to see companies like this who are taking the time to do this the right way.

MassRoots has captured the groundswell of excitement and enthusiasm through its social media platform. The company has even affected change at Apple with its campaign to get back on the app store. Other companies have struggled with Apple, such as Leafly, so MassRoots can attest to the challenges that cannabis tech groups face.

We will be writing more on the topic when the stock goes live, but wanted to make note of history in the making. Keep your eyes open and take this in. There aren’t many times in life when we all get to participate in something genuinely groundbreaking.


The discussion above is provided for informational purposes only and does not constitute an offer of, or solicitation for, any investment services or products offered by the author. The author is not making any investment recommendations and the opinions above do not constitute investment advice. Reference to above indices [and companies] is based on information provided by sources the author believes to be credible. Investing in the cannabis industry, as with other industries, presents certain risks including the risk of loss on an investment.

Morgan is a Founding Partner and Managing Director of Poseidon Asset Management. He is the Chief Investor of their Cannabis Focused Fund. Morgan previously worked for a privately owned Registered Investment Adviser and earlier was at UBS Financial Services focusing on wealth management. Morgan believes in the potential of the cannabis industry and likes having an active involvement as it develops. You can follow him on Twitter @PoseidonAsset.

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