Global markets are in “rebalance mode” as investors around the world are struggling with uncertainty. Where is oil going to settle? Are we in disinflation or deflation? Treasuries, commodities and stocks are all seeking that answer. Gold seems to be attracting attention as a safe haven, as is often the case. Is Bitcoin destined for the dumpster? This was a difficult week for equity investors as earnings have been underwhelming, and global uncertainty is back. Despite the ongoing concerns, stocks managed a strong rally into the close. The S&P 500 gained 1.32% to 2,019.
Cannabis stocks were skewed to the bullish camp today, as several stocks surged double digits on better volume. The space continues to outperform broader markets so far this year. It is interesting to note and welcome to see, there is much more of a bifurcation compared to last year at this time.
Daily Positive: Monday is a stock market holiday. Enjoy the long weekend!
Daily Negative: Novus Acquisition and Development (OTC: NDEV) is a PINK sheet doing great things for its shareholders by retiring shares to the treasury (insert sarcasm). How about working to uplist off the PINKs or updating shareholders about actual revenue generation? Retiring stock is a strategy that many OTC stocks do as a “shareholder friendly” activity. Typically this is a pumpy press release without any actual punch.
The Supreme Court is set to weigh in on bans against gay marriage in June 2015.
We can’t help but notice the parallels between legalizing marijuana and gay marriage as they both progress in our society. These two issues seem to appeal to a broader range of citizens than one would assume based on pure party lines or other typical demographics. It seems that these are also reflected in the progressive mindset of a new generation of voters.
We’re not the only ones to notice the similarities between legalizing marijuana and gay marriage. SPARC, a non-profit cannabis collective in California, offers a “Legalize Gay Pot” sweatshirt in its catalog. Click the image below to view the item on SPARC’s site:
Our politicians must be aware of their changing constituent base in order to stay relevant, in office (and paid). So they better listen up! As we have said in the past, with the tides of society changing, so must the laws. We believe that with the laws changing, in comes the capital.