Friday Holiday Out!

holiday out

U.S. equities showed some positive activity on news of Greece’s four month bailout. The S&P 500 closed up at a meaningful high of 2,110.30. Additionally, the DOW Jones had a record breaking day closing up 18,140.44.

Cannabis stocks continued their trend of having a quiet day for Fridays. We have become accustomed to this.

Daily Positive: Research on growing efficiency and efficacy is continuing on—this time in Canada with Tweed (TSXV: TWD) announcing progress of the collaboration with Indoor Harvest. The market is watching Indoor Harvest as one of the companies accessing the public market via S-1.

Daily Negative: Creative Edge Nutrition (OTCPink: FITXfiled financial statements yesterday and continues to dazzle us by lowering our already very low expectations of this company. If anything, this disclosure shows how FITX continues to “take the piss” at the expense of its investors.

The Marijuana Policy Project is calling for a boycott of the Holiday Inn for a local operator’s participation in the lawsuit filed against Colorado yesterday. As we discussed yesterday, this lawsuit runs counter to the entire benefit of bringing this industry from the dark to the light.

It is important to be louder and more articulate than the opponents of legalization. There are myriad reasons why legalization is key, here are some of them: patient and consumer access to safe and healthy cannabis, taxation means supporting desperately underfunded government programs, regulation disempowers the black market and drug cartel, the prison system and police force are less burdened and legalization creates jobs.

The Holiday Inn in Colorado has probably seen an increase in revenue thanks to legalization and if it hasn’t, they must be doing something wrong.

You can help by signing the petition. Be louder and more articulate than the opposition. Education and information are friends to the cannabis industry. On Twitter you can follow this story by tracking #HolidayOut.

 

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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