Major cannabis stock indices have been falling for three consecutive weeks, ever since White House Press Secretary Sean Spicer suggested the federal government would enforce federal law in states where recreational weed has been legalized.
Tag Archives: Indices
Friday Eve of San Francisco Cannabis Week
Feels like a Friday in the cannabis sector as stocks were under selling pressure with lighter volume.
Thursday Watch for Actual Warning Signs
Cannabis stocks started the day under selling pressure. However, the negative pressure eased a bit as broader markets lifted higher.
Thursday Risk Off and Trickle Down
Volume is once again thinning in the cannabis sector. Risk-off sentiment in the broader markets may have a trickle-down effect on the participation in this high octane sector.
Wednesday Low Volume Levitation
Cannabis stocks are facing dwindling participation. However, today was a “low volume levitation” kind of day.
Tuesday: Put Up or Shut Up
We believe that 2015 is the year to “put up or shut up.” We believe companies that are able to execute and generate meaningful revenues will separate themselves from the pump and dump crowd.
Monday: Marijuana Effect & Hemp Respect
Cannabis stocks were mostly unchanged on the day, even though individual stocks varied quite a bit on a percentage basis.
Friday Politics is Our Business
Cannabis stocks ended the week on a mixed note. We are pleased to see better volumes and capital flowing to better names.
Equities continued to surge higher and recoup the recent weakness. Keep in mind that just a few days ago, the market was off to its worst start to a calendar year ever.
Wednesday ‘Think Different’
Cannabis stocks were moderately weak today. The sector is currently void of industry catalysts and therefore dependent on individual company updates.
Turnaround Attempt Tuesday
It is quite possible that “buy the rumor, sell the news” has been experienced, as manipulators might have been pushing up prices ahead of last night’s “Marijuana Country: The Cannabis Boom” on CNBC Prime.
Monday Press Worthy or Pumpy?
The holiday trading is now behind us and the initial sentiment for 2015 is starting off pretty weak. Does this feel similar to last year at this time?
Friday: First Trading Day of 2015!
Cannabis stocks enjoyed their first day of 2015 with a majority of the sector rallying. It is not too surprising to see a bounce with tax-loss harvesting behind us.
Wednesday Wrapping Up 2014
Cannabis stocks were mostly quiet today as tax-loss selling came to an end. Let’s hope we are not so widely plagued with this headwind in 2015’s year-end.
Tuesday: Tax-Deductible Gifts Make Change
This is one of the last days of 2014 where you can make donations to impact your taxes and tax write-offs for the year.
Monday ‘Tip Toe’ Mode
U.S. markets seem like they are on “tip toe” mode into year end. U.S. equities have had a great year, in general, so there is little incentive to take too much risk with two trading days left.
Friday Boxing Day
While quiet, the market seems to be holding its own today. The S&P 500 posted a gain of 0.34% to 2,089. Small and microcaps outperformed their larger cap brethren with both indices continuing their December rally.
Friday Energy Fueled Texan Recession?
Is this an oversold bounce or is the tide finally turning in the cannabis space? Investor interest seems to be hanging around again today, albeit not to the same degree as yesterday.
Thursday Pump & Dump Alert
Global equities are in rally mode. Is it because of the dovish comments from the Fed? Or could it be a little year end holiday cheer?
Wednesday Exhibits Patience
U.S. equities saw a rise today leading into and following the Fed’s decision to exhibit patience for “considerable time” around raising rates for the first time since 2006.
Tuesday is a Failed Turnaround
U.S. equities experienced another day of elevated price fluctuations, as the Dow Jones failed to hold onto a 230 point gain. Oil continues its free fall, returning to levels last seen during the depths of the financial crisis.
Wednesday: Hump Day or Pump Day?
Equity weakness resumed today with energy prices continuing to plunge to multi-year lows. Weakness was broad amongst different market segments and company sizes.
Tuesday Tail Licking
Stocks take a tail licking globally, as many indices posted declines of more than 1%. Energy weakness has been a key reason for several weeks now.
Monday Monitor and Adjust
Energy continues to spiral downward, putting pressure on U.S. stocks for the day. Additionally, emerging market currencies continue to weaken against the dollar, to the lowest point in a decade. Putin is crying in his borsch. The S&P 500 posted a decline of 0.69% to 2,061.
Friday: Quality Information is Gold
U.S. payrolls witnessed the largest gain in three years, while oil continues to slide. Equity markets reflected that mixed news in the early part of the day, but then raised on the optimism around the relative strength of the U.S. economy.
Thursday Pump Alert
U.S. equities showed a weak open on the back of news from the ECB. However, the selling pressure didn’t last long and equities ended mostly unchanged. The S&P 500 posted a small decline of 0.11% to 2,072.
Wednesday’s Key Questions to Consider
This morning’s November ADP jobs report came in with more than 200,000 jobs added. The U.S. economy continues to chug along, but this report was a bit softer than expected.
Monday UPOD Strategy: Something to Consider
The broad market struggled early today as Black Friday sales underwhelmed, China released data around reduced production, and concerns continued around the recent drop in oil and energy stocks.
Friday Weed Week Eve
US equities were mostly quiet despite the continued economic progress as demonstrated in today’s jobs report. The S&P 500 closed the day marginally higher by 0.04% to 2032, another record close.
Thursday Creeps Higher
U.S. equities continued to creep higher today extending its recent outperformance over international markets. This performance gap is starting to feel a bit discomforting … .
U.S. equities mostly moved higher today after last night’s elections. The S&P 500 continues to set new record highs, 36th of the year, to close up 0.54% to 2023.
Time Will Tell Tuesday
U.S. stocks gravitated around the unchanged line as investors digested continued pressure out of the energy sector. Saudi Arabia appears to be flexing their pricing muscle, putting U.S. fracking to the test.
Divergent Markets Thursday
Today, investors received the first look at the US GDP for the 3rd quarter, a key measurement of the U.S. economy. The headline number came in at a 3.5% annualized growth, which follows a nicely positive 2nd quarter of 4.6%.
Monday Finishes As It Began
Equities were generally quite tame today as we finished the day pretty much where it began. It wouldn’t be surprising to see the markets digest some of the recent snapback, especially without some positive catalysts.
Flat Cannabis Friday
Equity markets experienced its best weekly gain of the year. We are quickly erasing the recent correction and are now back to levels from two weeks ago. The S&P 500 closed with a gain of 0.73% to 1965.
Markets resumed their winning ways today, led by small and micro cap stocks. The S&P 500 surged back with a gain of 1.24% to end the day at 1951.
What’s up Wednesday?
What’s up Wednesday? Not the S&P 500, which ended its recent four day winning streak with a decline of 0.74% to 1927. Small and micro caps declined in sympathy of the overall market weakness.
Today the S&P 500 caps the biggest rally in a year, up 1.9% to 1,941. Are we already heading back to record highs? If so, the recent correction will have been nothing more than a blip on the radar.
Slightly More Manic Monday
It is hard to say that the market was actually manic today, but we had a nice follow on from Friday’s bounce. Market breadth was quite strong, especially given weakness in bellwether blue chip, IBM.
Friday … Finally!
Today we bounced, finally! Stocks surged higher right from the open lead by large capitalization stocks. The S&P 500 closed the day higher by 1.3% to 1887 though ended the week lower.
After several days of selling, investors finally had a day of relative calm. The S&P 500 barely managed to end the day with a small uptick to close at 1862.
Volatility is reaching levels not seen in equities in the last several months. U.S. stocks started out the day extremely weak, rallied, sold off and climbed back to end the day lower, but significantly off the daily lows. Talk about whipsaw action.
Weakness continued on this light trading day, especially in the final hour of trading. The not-so-manic market activity was felt by traders. While Columbus Day is not a major or market holiday, it is still an excuse for a long weekend for many.
Midweek Lift: Broader Markets and Cannabis Sector Showed Bump for Humpday
The S&P 500, Russell 2k and Russell MicroCap all experienced gains of > 1.7%. MJIC Marijuana Index and Benzinga 420 Marijuana Index both underperformed, with a gain of 0.09% and a decline of 1.51% respectively.