Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>The US cannabis MSOS ETF broke a two-week slide and gained 6.77% over the holiday-shortened four- day trading week.</li><li>Once again, the global YOLO ETF lagged at just 0.27% over the same stretch. MSOS is +37.23% YTD, while YOLO is +22.18%.</li><li>The discrepancy shows the increased interest in US cannabis due to the potential for rescheduling and the continuing difficult environment for most Canadian operators.</li></ul>

The US cannabis MSOS ETF broke a two-week slide and gained 6.77% over the holiday-shortened four- day trading week.Once again, the global YOLO ETF lagged at just 0.27% over the same stretch. MSOS is +37.23% YTD, while YOLO is +22.18%.The discrepancy shows the increased interest in US cannabis due to the potential for rescheduling and the continuing difficult environment for most Canadian operators.

The Highlights - Cannabis News for the Week Ending February 23, 2024

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Equity Bottom-Up

AdvisorShares Pure US Cannabis ETF / Equity Bottom-Up

<ul>
<li>A bombed-out sector down 80% from the peak is worth another look</li>
<li>Weaker companies have exited the industry or have already gone under </li>
<li>The sector ETF has a good risk reward  with catalysts ahead</li>
</ul>


A bombed-out sector down 80% from the peak is worth another look
Weaker companies have exited the industry or have already gone under 
The sector ETF has a good risk reward  with catalysts ahead


<ul><li>Cannabis stocks rose for the fourth consecutive week, with the US cannabis MSOS ETF +8.06% and the global YOLO +4.96%.</li><li>Returns continue to be driven by optimism around political progress in the US. YTD MSOS is +30.10%, while YOLO is +15.55%.</li><li>Since the HHS rescheduling recommendation on August 29, MSOS is +88.05% and is outperforming YOLO by 42.29%.</li></ul>

Cannabis stocks rose for the fourth consecutive week, with the US cannabis MSOS ETF +8.06% and the global YOLO +4.96%.Returns continue to be driven by optimism around political progress in the US. YTD MSOS is +30.10%, while YOLO is +15.55%.Since the HHS rescheduling recommendation on August 29, MSOS is +88.05% and is outperforming YOLO by 42.29%.

The Highlights - Cannabis News for the Week Ending January 26, 2024

High Conviction Concentrated Growth Investing, Fallacy Alarm

Fallacy Alarm

High Conviction Concentrated Growth Investing

High conviction concentrated growth investing. Blends single stock, macro and thematic research into powerful long and short ideas. I am convinced that a robust and comprehensive investment process requires macro and micro considerations. And it requires a deep understanding what you are looking for and what you are invested in. Digitization has changed the dynamics both how businesses operate and how investors compete for returns. Ideas can scale much faster and fail much faster than before. The biggest value creation happens before it can be spotted in financial statements. As a result, my approach can be best summarized as high conviction, high concentration growth investing, embedded into a macro framework built on the realization that our current demographic set-up, monetary paradigm and innovation cycle will likely deliver a strong decade for nominal and real returns of productive assets.

<ul><li>Investing into cannabis stocks has been a soul-crushing experience for investors over the past 10 years.</li><li>Check out the performance of the Global Cannabis Stock Index below.</li><li>It’s effectively a complete wipe-out.</li></ul>

Investing into cannabis stocks has been a soul-crushing experience for investors over the past 10 years.Check out the performance of the Global Cannabis Stock Index below.It’s effectively a complete wipe-out.

<ul><li>It was a slightly negative week for most cannabis stocks, with the US-cannabis MSOS ETF dropping 2.11% and the global YOLO ETF ending exactly flat.</li><li>MSOS was -8.87% for the first four days of the week, then presidential pardons and Schedule III speculation sparked a rally.</li><li>On Friday, President Biden issued a proclamation to begin pardoning certain cannabis offenses.</li></ul>

It was a slightly negative week for most cannabis stocks, with the US-cannabis MSOS ETF dropping 2.11% and the global YOLO ETF ending exactly flat.MSOS was -8.87% for the first four days of the week, then presidential pardons and Schedule III speculation sparked a rally.On Friday, President Biden issued a proclamation to begin pardoning certain cannabis offenses.

The Highlights - Cannabis News for the Week Ending December 22, 2023

United States

The AdvisorShares Pure US Cannabis ETF is an actively managed exchange-traded fund incorporated in the USA.  The fund seeks to seeks long-term capital appreciation by investing in the US Cannabis industry.

AdvisorShares Pure US Cannabis ETF (MSOS US)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

AdvisorShares Pure US Cannabis ETF (MSOS US)

The Highlights - Cannabis News for the Week Ending February 23, 2024

The discrepancy shows the increased interest in US cannabis due to the potential for rescheduling and the continuing difficult environment for most...

Water Tower Research

MSOS – Going Higher!

A bombed-out sector showing good potential upside. The sector ETF offers good risk reward with catalysts on the horizon.

Rikki Malik

The Highlights - Cannabis News for the Week Ending January 26, 2024

Cannabis stocks rose for the fourth consecutive week, with the US cannabis MSOS ETF +8.06% and the global YOLO +4.96%. Returns continue to be...

Water Tower Research

Dope or Nope?

Investing into cannabis stocks has been a soul-crushing experience for investors over the past 10 years. Check out the performance of the Global...

Fallacy Alarm

The Highlights - Cannabis News for the Week Ending December 22, 2023

It was a slightly negative week for most cannabis stocks, with the US-cannabis MSOS ETF dropping 2.11% and the global YOLO ETF ending exactly flat.

Water Tower Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Highlights - Cannabis News for the Week Ending February 23, 2024

The discrepancy shows the increased interest in US cannabis due to the potential for rescheduling and the continuing difficult environment for most...

Water Tower Research

MSOS – Going Higher!

​A bombed-out sector showing good potential upside. The sector ETF offers good risk reward with catalysts on the horizon.

Rikki Malik

The Highlights - Cannabis News for the Week Ending January 26, 2024

Cannabis stocks rose for the fourth consecutive week, with the US cannabis MSOS ETF +8.06% and the global YOLO +4.96%. Returns continue to be...

Water Tower Research

Dope or Nope?

Investing into cannabis stocks has been a soul-crushing experience for investors over the past 10 years. Check out the performance of the Global...

Fallacy Alarm

The Highlights - Cannabis News for the Week Ending December 22, 2023

It was a slightly negative week for most cannabis stocks, with the US-cannabis MSOS ETF dropping 2.11% and the global YOLO ETF ending exactly flat.

Water Tower Research

A bombed-out sector showing good potential upside. The sector ETF offers good risk reward with catalysts on the horizon.