After four days of selling, U.S. stocks managed to end the week in the green. Third update to fourth quarter GDP was released today, unrevised at 2.2% annual growth.
Cannabis stocks were under pressure today. News flow was light and so was the overall interest. Friday, anyone?
Daily Positive: Georgia is poised to be the 24th medical marijuana state. The bill is in the governor’s hands at this point. Let’s hope we see this bill signed for the sake of the industry and more importantly for safe access to qualified patients.
In case you haven’t heard of it yet, CanopyBoulder is the first true accelerator focused entirely on the cannabis industry. It is inspired by Techstars and is meant to help groom entrepreneurs. Canopy will help to transform concepts into companies and improve the industry’s investment space.
As investors in both the private and public sides of this industry, we are really glad to see this kind of support for entrepreneurs. Patrick Rea, who launched CanopyBoulder, has had great success in other sectors and will be lending that experience to this space. We are excited to see what the chosen 10-12 startups will bring to the table. Also, we are looking forward to providing our insight as mentors to this program. We believe that the amount of information shared will provide a great learning platform for investors and entrepreneurs.
Boulder is considered one of the best places for startups due to a confluence of factors, which makes a great jumping off point for Canopy. We look forward to its expansion in other markets and to the continued growth of the market.
Canopy’s spring session starts on March 30, 2015, so be on the lookout for updates on the progress and for sneak peeks into the participating startups.
The discussion above is provided for informational purposes only and does not constitute an offer of, or solicitation for, any investment services or products offered by the author. The author is not making any investment recommendations and the opinions above do not constitute investment advice. Reference to above indices [and companies] is based on information provided by sources the author believes to be credible. Investing in the cannabis industry, as with other industries, presents certain risks including the risk of loss on an investment.