What went up? Cannabis. Three red states voted in favor of legalization measures and plenty of pro-legalization candidates took the keys to governors' mansions in midterm elections. And what's up Canada.
On Wall Street, everyone was talking about pot stocks, from Tilray to Cronos. While some marijuana exchange-traded funds didn't exactly blow it out of the water, investments arrived from old-school companies including Altria and Molson Coors.
What went down? Crypto. A year ago, bitcoin came close to hitting $20,000...but by this month, it traded closer to about $4,000 under the harsh spotlight of increased regulation. That boom and bust, to some, is bubble-worthy.
In mid-December, the price of bitcoin fell below the cost to mine new assets...meaning bitcoin officially became unprofitable. It's now set to break a three-year winning streak.
#sourcemorningbrew
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