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 essentially trying to blackmail the media to only write positively about their company. We are often concerned about the behavior of companies in the cannabis sector, but there are issues across other sectors that are important to note.
Daily Positive: Another company, MFST, that had no real business in cannabis has moved onto ebola today, exiting our market stage right. Buh-bye, you won’t be missed.
Daily Negative: CBDS posted $1,114.00 in revenue for Q3.
We are in Los Angeles today on a due diligence trip. It is always good to get out and see what is happening in different markets. We are pleased to see a company with solid revenues and a strong fundamental business that is planning to go public. This is exactly the reason why we are bullish on the future of the public space and will continue to work to support companies aiming to contribute positively. As investors in this young sector, we urge research and in-depth discovery before tossing your hat into the ring.