The Highlights
The Fed raised rates 0.25% at the July FOMC meeting on Wednesday, bringing the fed funds rate to 5.25% to 5.50%. Stocks rallied, as investors sense the Fed may be nearing the end of its rate-hike cycle. The S&P 500 gained 1.05%, while the MSCI World Index climbed 0.82%. The Russell 2000 ended the week +1.01% and the NASDAQ once again outperformed, finishing +2.02%. Artificial intelligence has been driving tech stocks and YTD the NASDAQ is +36.79% compared with +12.66% for the small-cap Russell 2000. Cannabis stocks fell for most of this week, but rallied Friday to finish in the black. The reversal was driven by optimism that SAFE Banking will be a priority when the Senate returns in September. On Friday morning, Marijuana Moment reported, “Senate Majority Leader Chuck Schumer (D-NY) says lawmakers are ‘making good progress’ in bipartisan negotiations on a marijuana banking bill, and advancing it will be a priority for what he’s expecting to be a ‘very, very productive fall in the Senate.’” The MSOS ETF jumped 5.08% on Friday and finished the five-day stretch up 0.75%. Most MSOs finished the week down modestly, with TerrAscend (TSX: TSND, OTCQX: TSNDF) dropping the most at -9.09%. The stock is now -24.90% since uplisting to the TSX on July 4 versus the MSOS, which is -12.48% over the same stretch. AYR (CSE: AYR, OTCQX: AYRWF) was the strongest MSO, up 6.35% last week. Canadian operator Tilray (NASDAQ: TLRY) was the standout performer, +34.32% during the last five trading days. The stock had been selling off since late May, but this reversed after earnings were released on Wednesday.
Water Tower Research is built on the foundation of democratizing information flow. We bridge the growing information gap between companies and investors through our investor engagement strategies and open-access research platform.
Our research analysts are Wall Street veterans with the experience and knowledge to work with companies and investors in tandem. We provide access to the information and content that anchors the due diligence process for both professional money managers and individual investors. We leverage traditional research distribution channels and the best of modern digital strategies and tactics to amplify this information flow globally to engage all categories of investors and stakeholders.
Information flow is the foundation for creating investor awareness, knowledge, and engagement. Our mission is to help companies and investors have the tools they need and achieve their goals.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.