Stocks were lower today, and closing lower for the third week in a row. February was up every week, March down every week. We are not trying to extrapolate anything— it’s just interesting to observe and take note of this short term month-to-month investor behavior.
Cannabis stocks were mostly lower today, not too surprising given the day of the week. Unfortunately, the earlier enthusiasm around the potentially game changing CARERS Act has quickly waned.
Daily Positive: Cannabis bellwether GW Pharmaceuticals (NASDAQ: GWPH) has been moving nicely higher. Are GWPH shareholders going to see the stock make another run at $100?
Daily Negative: Upon reflection, we feel daily negatives are not beneficial for the market as a whole. We’ll now aim to post educational points about companies behaving in ways that could adversely affect shareholders.
Yesterday we had the opportunity to present to a World Presidents’ Organization/Young Presidents’ Organization in Southern California. We love having the opportunity to address groups who are not as familiar with cannabis or its industry. There are so many nuances and somewhat complicated aspects when it comes to investing in cannabis; we could talk about this industry for days. However, in most of these presentations, we only have a short amount of time to share the industry’s issues, progress and future.
It is encouraging to see the responses, reactions and questions the group brought forth. It is a good time to think about how we are all getting out of our cannabis circles to advocate and share industry knowledge. Be sure to get out and talk to people about it, don’t hide in the shadows. The more people know about the plant and what it means in terms of money, taxes and society, the better.
One thing that clearly stands out is that as this industry grows and as people gain more access to cannabis, more education and information will have to be made available.