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EXCLUSIVE: Poseidon Asset Management Co-Founder Talks Industry Outlook, Cannabis Regulations On ‘Cannabis Insider’

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Poseidon Asset Administration is devoted to offering a portfolio targeted on the hashish {industry} that permits buyers to develop with the corporate. 

Morgan Paxhia, co-founder and managing associate of Poseidon Asset Administration, appeared on Benzinga’s YouTube show “Cannabis Insider” for an unique interview Tuesday.

Paxhia instructed Benzinga that Poseidon was an early investor in Aphria, which merged with Tilray Inc (NASDAQ:TLRY). Inexperienced Thumb Industries Inc (OTC:GTBIF) stays one of many firm’s largest positions, he mentioned. 

The corporate additionally holds a big place in Terrascend Corp (OTC:TRSSF) and Ascend Wellness Holdings Inc (OTC:AAWH), which Paxhia mentioned is an thrilling firm with an unimaginable development trajectory.

Poseidon is actively investing in a number of completely different hashish corporations, he mentioned, including that “it is a tremendous time to be in hashish.”

Business Outlook: Capital flows for funds trailed off and plenty of different corporations had been unable to boost adequate capital to launch a number of funds, Paxhia mentioned. He instructed Benzinga that he feels “very fortunate” Poseidon was in a position to elevate three funds in whole. 

Most public hashish corporations are buying and selling at a comparatively low-cost valuation at present, he famous. 

Hashish Information: Democrats within the U.S. Senate unveiled a proposal to federally decriminalize marijuana on Wednesday.

There may be loads of good intention within the proposal, Paxhia mentioned, however “we’d like motion.”

Associated LInk: Sen. Chuck Schumer’s Long-Awaited Federal Marijuana Legalization Bill Unveiled: Will The Full Senate Accept It?

Focused motion is crucial to broadening entry to the hashish {industry}, he added. Paxhia believes that the Safe and Truthful Enforcement (SAFE) Banking Act ought to stay the middle of focus till it’s handed. 

On April 19, the U.S. Home of Representatives handed the SAFE Banking Act. If the Senate had been to cross the invoice, the SAFE Banking Act would permit monetary establishments to offer companies to hashish shoppers with out having to fret about incurring federal penalties.

Paxhia instructed Benzinga that he’s hoping that the latest developments on marijuana decriminalization set off motion on the SAFE Banking Act.

For now, Posiedon is concentrated on investing in good corporations with good people who find themselves driving the {industry} ahead, he mentioned. “Finally, we are going to get there with rules.”

Picture by Erin Stone from Pixabay.

https://www.benzinga.com/markets/hashish/21/07/21987932/exclusive-poseidon-asset-management-co-founder-talks-industry-outlook-cannabis-regulations-on-ca?utm_source=feedburner&utm_medium=feed&utm_campaign=Feedpercent3A+benzinga+%28Benzinga+Information+Feedpercent29

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