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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Companies Mentioned:
Lomiko Metals Inc., Latin Metals Inc., Gran Colombia Gold Corp., Sonoro Gold Corp., Grid Metals Corp., Renforth Resources Inc., Blue Lagoon Resources, CopperBank Resources Corp., Cora Gold Limited , Eskay Mining Corp., Hannan Metals Ltd., Lumina Gold Corp., Skyharbour Resources Ltd., Vertical Exploration Inc., Wealth Minerals Ltd., Oculus VisionTech, Inc.,Microsoft Corporation, KWESST Micro Systems Inc.,Clean Seed Capital Group Ltd., Halo Collective Inc., Delta 9 Cannabis Inc., Voyager Digital Ltd., Kontrol Technologies Corp., Pure Extracts Technologies Corp. Ayurcann Holdings Corp.
