Breaking: Unwinding Poseidon Cannabis ETF, Managing Partner Drops Exclusive Insights
Portfolio Pulse from Joana Scopel
Morgan Paxhia, co-founder and managing partner of Poseidon Investment Management, revealed the unwinding of the AdvisorShares Poseidon Dynamic Cannabis ETF (NYSE:PSDN). The firm has sold almost all its holdings, including Ascend Wellness Holdings Inc (OTCQX: AAWH). Paxhia also discussed the impact of the ETFMG US Alternative Harvest ETF (NYSE:MJUS) rebalance, citing it as a source of market pressure. He highlighted the significant impact of the rebalance on Curaleaf Holdings Inc (OTCQX: CURLF).
August 22, 2023 | 9:23 pm
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NEGATIVE IMPACT
Poseidon Investment Management has sold its holdings in Ascend Wellness Holdings Inc (OTCQX: AAWH).
The sale of Ascend Wellness Holdings by Poseidon could lead to a decrease in the stock's value due to the significant volume of shares sold.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The rebalance of the ETFMG US Alternative Harvest ETF (NYSE:MJUS) has significantly impacted Curaleaf Holdings Inc (OTCQX: CURLF).
The rebalance of the ETF has led to a significant impact on Curaleaf's stock, potentially leading to a decrease in its value.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
The rebalance of the ETFMG US Alternative Harvest ETF (NYSE:MJUS) has been cited as a source of market pressure.
The rebalance of the ETF could lead to market volatility and potentially a decrease in the ETF's value.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Poseidon Investment Management has unwound the AdvisorShares Poseidon Dynamic Cannabis ETF (NYSE:PSDN).
The unwinding of the ETF indicates a significant shift in Poseidon's investment strategy, which could lead to a decrease in the ETF's value.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100