Our pick last week, Alset EHome International (NASDAQ: AEI), went from US$2.84 on Monday, to a high of US$3.42 on Thursday (up 20.4%).
Global equity indices pulled back today amid concerns over a potential spillover of the debt crunch faced by China Evergrande Group (SEHK: 3333). Results of Canada’s federal elections are expected this evening. If the Liberals win, we believe financials and energy stocks will be negatively impacted tomorrow. This will also impact the C$.
We are maintaining our price forecasts. The U.S. Fed is meeting this week. We are expecting the Fed to maintain its dovish stance considering the recent weakness in China, and lower inflation data in August. Metals and equity markets will be negatively impacted across the board, if the Fed takes a more hawkish stance.
Last week, U.S. cannabis stocks outperformed their Canadian peers. Aside from a warning issued by the FDA and CDC, the cannabis sector in the U.S. had favorable developments:
Last week, the first U.S. listed ETF covering the psychedelic sector was launched – the AdvisorShares Psychedelics ETF (NYSE: PSIL).
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