The major indices are all trading significantly lower following a very active morning session on Wall Street after disappointing jobs data and a weak forecast from Walmart. Since yesterday, stocks have been diverging substantially due to the blowout economic releases. Retail sales exploded higher in January, confirming the latest high-frequency data from the consumer sector. Headline and core sales came in at 5.3% and 5.9% respectively, crushing away the consensus estimates, and the better-than-expected industrial production data and bullish Producer Price Index (PPI) point to the end of the recent soft patch in the U.S. economy.
Stock Pick Summary:
With the recent pullback in the market and our overall outstanding performance, we continue our aggressive intent and build on our well diversified portfolio. Our previous Cannabis pick turned out to be extremely profitable and today we make another dip in the same space by including a Canadian pot stock. It is a relatively unpopular company/stock, that the market may not be keenly watching as yet. We expect them to be able to grow their earnings by over 45% annually. A recent acquisition last year should help boost its bottom line. The company is using a solid foundation in the produce business to build a vertically-integrated cannabis business versus its competitors that have built massive operations looking for sales. While a risky play, the company continues to expand and maintain its profitability.
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