In the latest issue of Cannabis Confidential, Todd Harrison A concise analysis of current market trends in the cannabis industry, with a particular focus on the performance of: Advisor Share
Pure US Cannabis ETF MSOS.
A recognized expert on financial markets and cannabis investing, Harrison will provide insight into the ETF’s movements and broader market indicators.
MSOS Performance Highlights
According to Harrison, MSOS was up 3% in recent trading, marking a strong recovery with a 14% increase since last Monday.
The rise comes after a tough six weeks in which the ETF experienced a 40% drop, which Harrison described as a severe market correction following the April 30 rally.
Market trends and key levels
Harrison noted that early trading showed resilience as initial support levels of $7.50 and $7.30 held firm, allowing bullish investors to push the price towards a key resistance area near $8.00, which coincides with the 200-day moving average.
He also noted that the strength of the U.S. dollar, which has reached its highest level since November, poses challenges for risk assets like cannabis stocks.
I’m looking forward to
This newsletter predicts major events that may impact the markets, such as the upcoming presidential debate and the end-of-month trading session.
Harrison highlighted MSOS’ strategic positioning and potential market shifts, signaling it is at an important crossroads for investors.
Finally, Harrison touches on the broader challenges facing the cannabis industry, including regulatory hurdles and competitive pressures from other industries. This context is critical for investors to understand the complexities and external factors that will impact their investments.
Navigating volatility: MSOS’s robust performance amid market fluctuations
According to data from Benzinga Pro, despite recent market challenges and the impact of a stronger US Dollar, MSOS has shown resilience on its long-term trajectory.
Over the past year, MSOS has surged by 43.49%. Year-to-date, growth remains positive at 11.55%, despite a decline of 16.99% over the last three months.
Looking more closely at monthly performance, MSOS experienced significant fluctuations. In June 2024, it fell 5.49% from a high of $8.12 to close at $8.02. This decline came after a May in which it plummeted 15.84% from a high of $11.05 to $8.02, despite trading volume surging to 315.46 million shares and a market cap of $1.04 billion.
In contrast, April saw a notable recovery, boosted by strong trading activity, increasing by 9.59% to peak at $11.36. This positive trend began in March, when it increased by 10.24%.
These investment issues will be a hot topic at the Benzinga Cannabis Capital Conference in Chicago on October 8-9. Join us to learn more about how the wave of cannabis legalization will impact the future of investing in the industry. Hear directly from top executives, investors, advocates and policymakers. Get your tickets now through this link before prices go up.
Photo: AI-generated imagery.
