Wednesday Wrapping Up 2014

2014 Wrapping Up

U.S. markets enjoyed double digit gains for 2014 and finished near record highs. It was encouraging to see small and micro capitalization stocks rally strongly into year end, after underperforming most of the year. The S&P 500 fell into the close with a decline of 1.03% to 2,059.

Cannabis stocks were mostly quiet today as tax-loss selling came to an end. Let’s hope we are not so widely plagued with this headwind in 2015’s year-end. Both MJIC Marijuana Index and Benzinga 420 Marijuana Index managed to close on a positive note with a gain of 1.9% and 1.4%, respectively.

Daily Positive: The historic 2014 public cannabis market is now in the books.

Daily Negative: Let’s end the year on a positive note, so no negative comment today.

Time to start wrapping up 2014. Have a happy and safe New Year’s Eve! We are looking forward to a healthy and prosperous 2015. We will meet again on Friday!


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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