Tuesday: Further into the Unknown

Further

The S&P 500 rose early in the day to a new record as healthcare and small caps climbed higher, closing at 2053.44. The markets continue to move further into the unknown as indices register record closes on a daily basis.

Cannabis indices were slightly positive today with MJIC Marijuana Index rising by 1.58% and Benzinga 420 Marijuana Index closing flat.

Daily Positive: GW Pharmaceuticals, GWPH, the bellwether for the industry had a solid day today, closing up over 5% at 80.50.

Daily Negative: There appears to be some issues with the licenses in Clark County, Nevada. We are watching to see what will happen next, but with this industry hiccups are always expected along the way.

In fun news that also indicates the widespread use of new technology to consume cannabis and tobacco, “VAPE” is named Oxford Dictionaries Word of the Year 2014. Changes in lexicon are often a sign of changing sentiment in society and we see this as a great sign of for legalization. Here are the ways that Oxford is defining the term:

Vape (verb) – to inhale and exhale the vapour produced by an electronic cigarette or similar device.

Vape (noun) – an electronic cigarette or similar device; an act of inhaling and exhaling the vapour produced by an electronic cigarette or similar device.

From an investor standpoint, it is difficult to filter through all of the companies claiming to have a mastery of vaping technology or formula in the cannabis sector. It certainly is an area to study, as alternative ingestion is going to be key to the future of the industry.

 

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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