Equity markets cheered on the surprising news coming out of Japan overnight. The big announcement was from the Bank of Japan where Kuroda shocked markets with a surprise easing action. In lieu of candy, we see this as their way of saying Happy Halloween. The S&P 500 closed today at its 35th record high of the year with a gain of 1.17% to 2018.
Daily Positive: It is raining in California, which might provide some slight ease to the tremendous drought. Just as we are a political industry, we also must watch and understand weather and energy. Remember much of the California’s agriculture, including cannabis, is grown outdoors.
Daily Negative: It is disappointing to see sub-penny stocks moving up 100% + today. It is a good reminder that this market is comprised of many unsophisticated investors, easily swayed by social media and headlines. For more, check out this great article by The Financial Times.
The elections are next Tuesday, November 4, 2014, so there is still time to prep and understand who the officials are in your state and know the local communities that support cannabis initiatives. If you are having trouble understanding the issues or determining the choices that will move cannabis forward, check in with your state chapters of the NCIA.
For example, in California, we have the CCIA (California Cannabis Industry Association) and its team is extremely helpful when seeking information on elections. Remember, as Sean Donahoe said in his October 2 article from CULTURE Magazine, “If cannabis is your industry, then your business is politics.”