U.S. equities showed a weak open on the back of news from the ECB. However, the selling pressure didnâ€™t last long and equities ended mostly unchanged. The S&P 500 posted a small decline of 0.11% to 2,072. The broad markets have had another positive year and it appears that investors are content with their gains at this point. Will we see a year-end Santa Claus rally, in addition to the recent positive move from October lows?
Cannabis indices underwhelmed today with poor price and volume. MJIC Marijuana Index and Benzinga 420 Marijuana Index declined by 4.29% and 1.15%, respectively.
Daily Positive: Weâ€™ll take a pass on this one today.
Daily Negative: Cannabis stocks are far below levels seen earlier this year. However, valuations are still challenged for most companies in the space. We understand that many investors in OTC stocks do not appreciate fundamental analysis. However, itâ€™ll be hard to attract new investors to the space after what many have experienced this year.
Pump and Dump Alert: We have mentioned Nhale (OTCBB:Â NHLE) several times, as the companyÂ continues to issue press releases with essentiallyÂ no value. Well, Nhale is back at it today, telling investors how the company is having discussions to raise capital. This is not press worthy. Investors would be better served with a press release regarding execution of a capital raise.