Early “Grexit” selling pressure subsided as bulls regrouped and pushed U.S. stocks back to mostly flat for the day. Fixed income is under pressure as the 10 year treasury yields rise above 2.10%. The S&P 500 ticked higher by 0.14% to 2,100.
Cannabis stocks were mixed again today as participants were still working off the long Presidents Day weekend. As a note, our early presidents and forefathers were fans of hemp. If hemp is good enough for them, it is good enough for us!
Daily Positive: Nothing worth mentioning.
Daily Negative: Canadian LPs are under pressure once again despite the recent softening of the U.S. dollar versus the Canadian dollar. We, along with many other investors, will be anxiously awaiting February 23, 2015, to see the result of a pending court battle that is challenging the entire MMPR model.
This coming weekend is CannaCon in Seattle, Washington. We expect press releases to pick up, as companies start hyping their appearance. This is a great opportunity to meet many companies and get a better feeling for their management and products. There are many conferences and conventions these days and they are great opportunities to network and meet with people in the industry. Importantly, if you are considering investing in the space, it is always good to know the “who’s who” of the industry and to understand the politics. We will keep updating our readers on upcoming events.