Breaking: Unwinding Poseidon Cannabis ETF, Managing Partner Drops Exclusive Insights

In a recent episode of Benzinga Cannabis Insider, Morgan Paxhia, co-founder and managing partner of Poseidon Investment Management dropped a bombshell that is sending shockwaves through the cannabis investment community.

Paxhia, a prominent figure in the cannabis investment space, shared exclusive insights into the unwinding of the AdvisorShares Poseidon Dynamic Cannabis ETF PSDN, of which he is a co-founder and managing partner. The impact of this revelation is expected to resonate across the market.

Speaking of Poseidon, founding & managing partner Emily Paxhia will discuss the dynamics of funding as well as the legal nuances in the world of cannabis investment at the upcoming Benzinga Cannabis Capital Conference in Chicago, Sept. 27-28.

Related Content: (Lack Of) Cannabis Reform Casualty: Poseidon ETF Shuts Down As Equities Continue Slump

Poseidon's Breaking News

Morgan Paxhia began by acknowledging his significant recent activity in the market, remarking, "I've been very active in the market for the last few weeks.

"As of today, we are...very little left. We've sold almost everything; we're out of Ascend [Ascend Wellness Holdings Inc AAWH]," he said clarifying the firm's position. "Everyone that's been saying... Ascend is having massive volume today, but we're out."

The influence of Morgan Paxhia's insights extended beyond Poseidon's unwinding.

He addressed the market's perception of pressure and the ongoing ETFMG US Alternative Harvest ETF MJUS rebalance.

"People have been citing us as a source of pressure," he said. "Citing the MJUS rebalance as a source of pressure looks like they're largely done with that perceived pressure. As we remove all this perceived pressure, I think that is helping, and if we look at MSOs, we see GTI is up."

Paxhia moved to the broader landscape, highlighting the impact of MJUS rebalances. "Curaleaf [Curaleaf Holdings Inc CURLF] went through a massive rebalance through MJUS, and it really did impact the stock pretty hard."

Morgan provided a comprehensive take on the seasonality of the market.

In discussing the benefits of exchange-traded funds (ETFs), Paxhia underscored their pivotal role in managing substantial inflows and outflows. "The great thing about an ETF is that it can be that accordion and can very efficiently manage if there is a big inflow or outflow relative to the daily volume."

Related Content: Meet MJUS: The New U.S. Cannabis ETF On The NYSE

For those interested in delving deeper into the world of cannabis trends and investment opportunities, consider joining Paxhia and other leading industry experts at the 17th edition of the Benzinga Cannabis Capital Conference. Join us in Chicago on September 27 and 28. All information is available on bzcannabis.com