On Oct. 16, 2017, the Board of Directors for MassRoots (OTCQB:MSRT), a marijuana social media platform, ousted Isaac Dietrich as the company’s Chairman and Chief Executive Officer.
Tag Archives: Benzinga
Beyond The Marijuana Index: MJIC CEO Talks Company’s Desire To Be ‘Amazon Of Weed’
MJIC Inc., the company behind the much-discussed Marijuana Index*, tracks U.S. and Canada-traded weed stocks and has been used as the base for the main cannabis ETFs out there. However, the media seems to have emphasized only one of the company’s multiple business segments.
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.
Tuesday Biotech Versus Cannabis
U.S. Q3 GDP revisions came out today and the news was quite positive. The good old U.S. economy posted a 5% annualized growth rate.
Monday Issuing Stock: Shareholder Impact
One of the benefits of being a public company is the access to low cost capital. Public companies have the ability to issue stock versus other methods such as borrowing money.
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.
Friday Falls Off a Cliff at Close
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.
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.
Investors in the broad market were pleased to see a turnaround today. Energy stocks showed a rally, overshadowing the fact that Cyber Monday showed lower returns than 2013.
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.
Thankful for Friday’s Short Market Day
U.S. energy stocks moved down on the news that OPEC would not be easing supply, which caused oil prices to tumble over the holiday.
Thanksgiving Eve: Give Thanks for Upward Trends
U.S. stocks continued their upward trend on the back of broad economic optimism. Consumer confidence is climbing to a seven year high, as people head into the heat of the holiday shopping season.
U.S. equities opened strong again and traded softer on waning volume, a similar pattern for the third consecutive day. International markets have been a bit stronger recently which has contributed to the early strength in U.S. stocks.
Holiday weeks are generally quiet and this week begun no differently. U.S. stocks jumped higher out of the gate following strength abroad. Similar to Friday, the gains quickly faded as investors failed to support initial strength.
Friday Financial Groundhog Day
The S&P 500 jumped higher at the open on news from central banks in China and Europe regarding additional stimulus actions. Unfortunately, the market lost most of its ground as stocks faded into the close.
Thursday: Don’t Fight the Tape
There is an old saying on Wall Street, “Don’t fight the tape.” This basically means, do not bet against the trend. Right now, this market is moving up and to the right.
Due Diligence Wednesday
The S&P 500 was off 0.15% after minor selling pressure earlier in the day. NASDAQ was down a little over 0.5%. There is a lot of buzz around the bad behavior of Uber executives … .
Tuesday: Further into the Unknown
The S&P 500 rose early in the day to a new record as healthcare and small caps climbed higher, closing at 2053.44. The markets continue to move further into the unknown as indices register record closes on a daily basis.
Monday is Back to Business
The day opened with concerns over Japan’s recession and a slump in small-caps led to fluctuation of stocks on the news. However, the S&P 500 worked its way to a marginal win to close at 2,041.
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.
It was a mixed Monday as U.S. stocks were very quiet following the record close on Friday. The S&P 500 ended the day with no gain to close at 2018.
Happy Halloween Friday
Equity markets cheered on the surprising news coming out of Japan overnight. The big announcement was from the BOJ where Kuroda shocked markets with a surprise easing action. In lieu of candy, we see this as their way of saying Happy Halloween.
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%.
Wednesday Ends Quantitative Easing
Today marks the end of the historic Quantitative Easing version 3.0. Basically, the Federal Reserve has ended its balance sheet expansion, which has been supportive of our economy for the last several years.
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.