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. U.S. equities hovered around unchanged, crossing between positive and negative throughout the day. Ultimately, the S&P 500 gained 0.11% to 2,091.
Daily Positive: Two trading days left for 2014.
Daily Negative: Creative Edge Nutrition (OTC: FITX) delayed its filings, which is no real surprise as it is OTC PINK, just more time of the company lacking transparency with its investors.
2014 has been an historic year for several reasons in the cannabis industry. The public companies have gone through tremendous price volatility as animal spirits soared, soured and departed. However, there are many additional factors to consider in the price fluctuations.
2015 is going to be the year for companies to show what they can do. Investors want to see revenues, progress and not fluffy press releases. Along with this theme, there will be the demand for better transparency. One interesting trend includes uplisting. This process can range from OTC stocks moving from PINK to QB, or even OTC moving to a listed exchange.
For example, Novus Acquisition & Development Corp is currently OTC PINK. However, it put out a press release today stating it will be fully reporting and therefore no longer PINK by January 2015. Let’s hope it delivers on this promise, we laud the company for trying to raise its own bar.
2015 is the year for tangible progress.
*Correction from last week – Cabinet Grow hopes to be trading by February or March of 2015.