Poseidon Investment Management Founding Partner & Managing Partner Emily Paxhia Says This Creates Protections Around Our Businesses To Run As We Would Like To Run Within The Legal State Programs; This Is Why We Do Not Have Credit Card Processing, Insurance Providers Are Limits, Banking Relationships Limited, Do Not Have Access To Capital Market Access To NASDAQ And NYSE
Portfolio Pulse from Benzinga Newsdesk
Emily Paxhia of Poseidon Investment Management highlights the challenges faced by cannabis businesses, including limited access to credit card processing, insurance, banking, and capital markets like NASDAQ and NYSE.
October 08, 2024 | 2:59 pm
News sentiment analysis
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NEGATIVE IMPACT
MSOS, an ETF focused on the cannabis sector, may be impacted by the regulatory and financial challenges highlighted by Emily Paxhia, affecting its holdings.
The challenges mentioned by Emily Paxhia, such as limited access to banking and capital markets, directly affect the cannabis sector, which MSOS is heavily invested in. This could lead to short-term negative impacts on the ETF's performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
SPY, an ETF tracking the S&P 500, is unlikely to be directly impacted by the cannabis sector's challenges as it has minimal exposure to this industry.
SPY has minimal exposure to the cannabis sector, so the challenges faced by cannabis businesses are unlikely to have a significant impact on SPY's performance.
CONFIDENCE 95
IMPORTANCE 10
RELEVANCE 10