U.S. stocks rallied today. Surprise, surprise, oil rallied and the U.S. dollar declined. International stocks traded strongly today as well. Have the last 10 weeks of consolidation run their course? Sure seems like markets are heading back to record highs.
Meanwhile, cannabis stocks continue to be shunned. Nothing material has happened overnight so we are not too surprised that sentiment hasn’t changed. And we are not supportive of rising prices for the vast majority of the space. For now the space continues to trade for the worse.
Daily Positive: Great news and great work to all who participated in getting MassRoots back on the Apple iTunes store! This is progress for the company and also for the industry. We laud Apple for living up to its tagline to “think different.” To us, this means progress!
Daily Negative: See below.
Are you familiar with the end of a star’s life? Well, it depends on the type of star. Anyway, some stars will go the route of a red giant. This action is basically a massive expansion of the remaining bits of the star as it runs out of fuel, and it is at this point that the star is referred to as a red giant.
As we get into 2015, many cannabis stocks that have little to no business will do anything possible to keep the lights on. We are witnessing red giants in the space already this year as many companies are rapidly “expanding” but really running out of fuel. Beware of these red giants as an end result, as well as the end of the star.