Yesterday I suggested adding $40,000 of our cash to AdvisorShares Pure US Cannabis (MSOS) with a buy limit of 11.45. This limit order hit. Thus, I am adding 3,493 shares of MSOS. This takes the MSOS share count to 5,158. This represents roughly 26% of the portfolio.
Recall that much of this is a trading position that I hope to sell for a profit in the near term on news regarding progress on the SAFE banking act in Congress before the end of the year.
This MSOS purchase reduces our cash position to $5,360, not the $15,360 that I cited in the November 22 update. Thus, I am updating the open limit order to represent the purchase of $5,000 worth of MSOS at 11.25. This reduces the size of the limit order from the $10,000 cited yesterday.
If this limit order hits it will take our cash position down to virtually zero. I want to be fully invested ahead of any progress on SAFE banking.