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Everything was going so well. And then things turned sour on a dime. The party pooper virus is up to its old tricks again.

On to the market. It was a funkier week than last week, though big picture nothing has changed. We are moving into the tail end of earnings season so we may see a more moderate amount of investor interest over the next two weeks.

Fundamentally, all is well in the marijuana sector as the industry’s leaders continue to grow, both organically and by acquisition. The average rate of revenue growth for the plant-touching companies in our portfolio in the most recent quarter was an amazing 132% from the previous year.

First a quick personal note. Our backup plan for the kids today (out of school because of the holiday) fell through so I’ll be spending much of the day with two young, energetic boys who could care less about the stock market! I’ll be keeping tabs on things but may not get to email responses today unless a response is super timely.

Most of our stocks continue to build bases, so I remain patient, waiting for a renewed advance by the sector. The standout stock in our portfolio is Innovative Industrial Properties (IIPR), which broke out to a new high last week after a great report.

Monday’s big, sharp market pullback was shocking to some investors, and scary enough to cause many to sell stocks in the fear that the correction would go deeper. It certainly might—the September/October period often brings major corrections—and maybe it should, though should is a word that I try to avoid when writing about the market.

I just wanted to drop a quick note about what we’re seeing in our portfolio; other than that the high-level action is mostly in line with the broad market (i.e., across the board weak).

Avalara (AVLR) reported Q3 results yesterday that surpassed expectations with revenue up 42% to $181.2 million (versus $170.3 million consensus). Adjusted EPS of -$0.03 beat by $0.04. Several recent acquisitions contributed meaningful growth in the quarter ($16.2 million in revenue) which, if taken out, means the organic revenue growth rate was closer to 29%.

Despite another dip in the Nasdaq today higher growth stocks have mostly come up off of last week’s lows as early indications suggest the Omicron variant can be held at bay with vaccinations (especially booster shots).

Kornit Digital (KRNT) reported Q3 results that missed on the top line and matched consensus on the bottom line. Net of the $7.9 million impact from warrants, revenue was up 51% to $86.7 million ($89.2 million expected) while adjusted EPS of $0.27 was in line.

The big recent developments since I wrote last Thursday are the rise in Covid cases in Europe, and that Jerome Powell got the nod for another term leading the Fed.

Suffice to say it’s been a tough week. As we head into a weekend that can’t come quickly enough, the main market indices are down over 2.5% and many, many stocks are 20%, 30% or 40% off their highs (some are better, some are worse).

Today Everbridge (EVBG) is trading sharply lower following an out-of-the blue announcement that the CEO is leaving. Not only is David Meredith leaving his post as CEO but also as a member of the Board of Directors.

Shares of Fiverr (FVRR) continue to slide, despite a beat-and-raise Q3 report and the threat of Omicron, which in theory should be good for some work-from-home (WFH) stocks.

I’ve decided to cut bait with Accolade (ACCD) since the stock just dribbled below its October low. This is another case where a healthcare tech stock just can’t seem to maintain enough momentum to keep investors engaged, despite the relatively steady financial performance and seemingly bright future.