SHF Holdings Inc experienced a price drop of 7.95%, crossing below the 20-day SMA, while the broader market showed positive movement with the Nasdaq-100 up 1.39% and the S&P 500 up 0.85%.
This decline occurs despite the positive sentiment surrounding the cannabis industry, particularly with Safe Harbor Financial's anticipation of market expansion due to potential cannabis rescheduling and the SAFER Banking Act. The expected changes could significantly enhance the addressable market for cannabis-related businesses, which may indirectly benefit SHF Holdings Inc.
The implications of this price movement suggest that while the overall market is performing well, SHF Holdings Inc is experiencing sector rotation, indicating a shift in investor focus away from its stock.
SHF Holdings, Inc. is a service provider to offer compliance, monitoring and validation services to financial institutions, providing traditional banking services to cannabis, hemp, CBD, and ancillary operators. Its services include regulatory compliance consulting and software for maintaining Know Your Customer (KYC) and Bank Secrecy Act compliance to financial institutions, principally conducted vis-a-vis its proprietary financial services platform and the origination, onboarding, verification, and servicing of cannabis-related deposit business for and on behalf of its partner financial institutions. Its services also include sourcing, underwriting, servicing, and administering loans issued to cannabis businesses and related entities, which are often also its customers and being customers of its partner financial institutions. Through the Company’s platform, its financial institution clients can provide cannabis-related businesses (CRBs) with access to traditional financial services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
