New to The Street’s “Cannabis Segment” welcomes Morgan Paxhia, Co-Founder and Chief Executive Officer of Poseidon Asset Management (“Poseidon”), to the show. Talking with TV Co-host Jane King and Co-host Zeta Ceti, Founder and President of Green Rush Revolution, from the Nasdaq MarketSite studio, Morgan talks about the fund’s focus and dedication to cannabis investments. Eight years ago, Morgan and his sister, Emily Paxhia, started the fund, when the interest in the cannabis industry was nonexistent; now in 2022, it is a $26B industry. The recent presidential executive order exonerating federal marijuana misdemeanor charges, “Pot Pardons,” is the beginning of further changes. Morgan also believes that some US Senators are readying a bill to change the banking issues, allowing cannabis businesses to deposit revenues. The capital markets are very tight as of late due to macroeconomic problems, but Morgan sees the Cannabis industry as a tremendous growth story. He expects innovations and other market participants to come into the sector regardless of the current market trends. There are ballot provisions for the legalization of marijuana in state elections coming in November, which again adds to the expected acceptance and growth of the industry. Morgan explains the Poseidon Dynamic Cannabis ETF (NYSE: PSDN) that he started, a leveraged investment fund in cannabis. When Poseidon first started, they had no data, no benchmarks, and limited opportunities; now, with positive social justice reforms and other political positions, the Cannabis industry and those investments look to have an exciting future ahead. The on-screen QR code is available during the show; download or visit Poseidon Asset Management – https://www.poseidonassetmanagement.com/.
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