The Highlights
Global equities rose this week, with the MSCI World Index +0.72% and the S&P 500 +0.80%. Investors seem satisfied with Fed Chairman Jerome Powell’s balanced rhetoric at the annual Jackson Hole Symposium. Powell’s tone was still hawkish, but less harsh than last year. The small-cap Russell 2000 slipped 0.35%, while the NASDAQ climbed 2.26%. The NASDAQ had a strong showing despite the market’s mixed reaction to NVIDIA (NASDAQ: NVDA) earnings on Wednesday. NVIDIA ended the week -2.02% but is still +215.02% YTD. It was a quiet week for cannabis stocks and the US cannabis MSOS ETF drifted 1.21% lower. Curaleaf (CSE: CURA, OTCQX: CURLF) +3.94% and MariMed (CSE: MRMD, OTCQX: MRMD) +3.30% were among the bright spots, while Ascend (CSE: AAWH, OTCQX: AAWH) -13.14% was hit hard again this week. Ascend is -18.85% over the past two weeks, while US cannabis has been fairly flat. This is in part due to it being a top holding in the Poseidon Dynamic Cannabis ETF (NYSE: PSDN), which closed on Friday. Even a careful seller can push these thinly traded OTC stocks lower. While the PSDN ETF has closed, the talented Poseidon team will continue to manage its suite of private funds. The closure is just further evidence of how damaging this 928-day drawdown has been. Despite the slow week, there were a couple of earnings reports worth highlighting and we had the pleasure of spending Saturday at Leef’s (CSE: LEEF, OTCQX: LEEEF) investor day. We also got news on how the Ohio adult-use ballot measure will read. If approved, this will be a big boost for the many MSOs with a presence in the state. Leef Shows Solid Y/Y Improvements in Tough California Market Leef is one of California’s largest extract manufacturers and has a compelling house of brands. Its Real Deal Resin line of live rosin has some of the most unique branding in the space. Leef reported second-quarter earnings on Tuesday, and we attended its investor day on Saturday. Let’s start with earnings.
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.