Well folks, that’s a wrap on a rather uneventful week for the markets. In terms of the cannabis sector, there is little to report on aside from the massive spike experienced by Pascal Biosciences on some news. However, even that didn’t last long as it began it’s snap back to reality the following day. All signs are presently pointing to bulls leaving the cannabis sector for the time being.
As a result of this, we’ve started to shift our focus again back to the blockchain and crypto currency markets. We like to follow the hot sectors where due diligence is often forgotten, in an effort to remind investors to look at the underlying assets of the company. With the push Bitcoin experienced over the long weekend, a more bullish week for the sector was anticipated.
However that too wasn’t overly realized in the markets, as displayed by several tickers such as Hive Blockchain (TSXV: HIVE) and Block One Capital (TSXV: BLOK). All in all, with it being a short week there was minimal movement in the two hottest sectors.
As a larger result of this, we’re currently looking to expand our knowledge base. Specifically, we’re looking to report on aspects of the broader market in addition to other sectors such as resources. This will be a slow process, but we feel it is necessary to best serve our viewers. And with that, let’s get into this week’s recap.
Friday Recap: Week Ending February 23, 2018
Global Cannabis Applications Corp (CSE: APP)
Our company in focus this week was Global Cannabis Applications Corp, a company planted firmly in two sectors in which we specialize. As a result of our analysis, we have a lot of mixed feelings on the company. They have a strong background within the industry, however as a result of some new management they seem to have lost focus. Instead, they’ve been chasing a few too many buzzwords as of late in what appears to be an attempt to stay relevant. However they do have products out in the market which may just yet take off. Check out the article to get the skinny on Global Cannabis.
This week marks the second edition of our new column Mental Hurdles, written by Rhum. This week, he identifies the importance of larger market forces on many small cap stocks. In particular his focus is on that of the futures market, and just how they may impact your current portfolio. With the semi-recent launch of Bitcoin futures, it helps explain to new investors the significance of analyzing the markets from a broader perspective, and to account for these larger forces in your market valuations.
Identillect Technologies Corp (TSXV: ID)
The last article of the week was again focused in the blockchain sector. Identillect Technologies Corp is one of the few companies that has made us excited as of late. The more we found out about the company, the more we liked. Identillect is a company firmly planted in the technology sector with a focus on providing additional security to a users email. To do so, they have developed a plugin that is available across multiple platforms for ease of use. Recently, they elected to enter the blockchain sector to better secure the vital information in which it protects. Give our analysis a read to get the latest on Identillect – you won’t be disappointed.
That’s all we’ve got for this week folks. With it being a short and quiet week, it resulted in relatively few articles being published. As always, we’ll be back at it Sunday morning with our latest full analysis. Until then, have a safe and happy weekend!