Thursday Uptick


After several days of selling, investors finally had a day of relative calm. The S&P 500 barely managed to end the day with a small uptick to close at 1862. Small and micro cap stocks extended their recent out-performance over large caps for the fourth consecutive day.

The cannabis indices diverged today with MJIC Marijuana Index declining by 2% and Benzinga 420 Marijuana Index posting a 0% return.

Daily Positive – Despite the indices performance, there were finally some positive returns for stocks in cannabis land as investors enjoyed some of the uplift seen in the Russell Micro Caps.

Daily Negative – Neutra Corp, NTRR, put out a false press release from their CEO. However, the CEO resigned from the company days ago. We are frustrated and disappointed to see this happening. Many thanks to Alan Brochstein for uncovering the truth.

We are in very early times for cannabis investing. There is much work to be done to build this industry for the long term. We are thankful and excited to have so many key relationships in this growing market. The road ahead is green and collaboration is key.


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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