Weekly Market UPdate 3/28/2024

Artificial intelligence (AI) and obesity drugs have been popular investment themes and have yielded investors significant market gains, but there has quietly been an even stronger performer…. cocoa.  West Africa produces over 70% of global cocoa supply and due to a perfect storm of dry weather conditions, wildfires and an outbreak of the cacao swollen shoot virus, harvests have suffered significantly.  As a result, cocoa which rose over 60% in 2023, has skyrocketed over 100% already in 2024 (per FactSet)!  Therefore, if Easter baskets seem particularly expensive to fill with chocolate this year, look no further than cocoa…

In observance of Good Friday, our office will be closed tomorrow, March 29, and the financial markets are also closed.

On behalf of the entire Peddock Capital Team, we'd like to wish you a
Happy Easter!

Ian G. Browning, CFA
Managing Director, Investment Strategies | Shareholder

Thanks to our clients and friends who have referred business to us over the years.

Your endorsement has been the cornerstone of our growth and our greatest compliment.