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- 🚨 60 More Days To Go! 🚨
🚨 60 More Days To Go! 🚨
William McNarland & Anthony Varrell
May 21, 2024
GM Everyone,
The clock has started! As of this morning, the proposed ruling from the DEA has hit the public register and started the 60-day public comment period. We now get to dive into the proposed ruling as it’s officially public record and mine it for any data points we might find relevant. This is just one step further in the process, but we are now within a time-gated federal process that we will have a handle on for when things should be shaping up. We are no longer in that black box period, hoping for something to hit the newswire. And now we wait!
Today’s letter can be read in 6 minutes and 12 seconds.
What's Driving the Market Today?
Stock market futures are slightly are flat today; these are the top highlights moving the markets:
Nvidia earnings and Fed minutes set to impact market.
Wall St VIX volatility gauge at pre-pandemic lows.
U.S. economic conditions easing, Fed officials in no rush to change policy.
Metals and oil prices retreat after recent highs.
Canada’s April inflation data to offer new price insights.
Tilray Brands Announces $250M ATM Program for US Market Growth
Facts that matter:
Tilray Brands launches a $250M ATM program to fund strategic acquisitions in the US market.
Tilray’s ATM program could secure significant US assets, per Anthony Varrell an industry expert.
Market reactions mixed on Tilray’s $250M ATM program amid share dilution concerns.
Quick Hit:Tilray Brands announced an “At-The-Market” (ATM) equity program to raise up to $250 million. This initiative aims to fund strategic acquisitions and accelerate Tilray’s expansion, due to changes in U.S. cannabis regulations. The ATM program involves selling shares of Tilray’s common stock in the open market, which could lead to share dilution for existing shareholders. However, this move is seen as a strategic step to leverage upcoming regulatory changes and expand Tilray’s market presence.
Analyzing Small Cap Stocks: HighTide
Facts that matter:
Hightide’s growth from a $50,000 investment to a $189M small-cap stock draws investor interest.
Hightide reports a 23.6% revenue increase, demonstrating its small-cap company growth.
For every $10 spent at Hightide stores, the company makes $0.60 in profit, six times higher than Walmart’s $0.10.
Quick Hit: Hightide Inc. (NASDAQ: HITI), a small-cap stock in the cannabis industry, has attracted investor attention with its growth and strategic market positioning. Founded by an initial investment of $50,000, Hightide has grown and now has a market capitalization of $189 million. The company’s success is due to its customer base, many of whom are part of the Cabana Club, a membership program that fosters customer retention and recurring revenue.
Coverage Initiated: New Lake Capital Partners
NewLake Capital stands out in the small-cap stock market for its strong financials and its unique position in the cannabis sector. The company’s business model operates on a simple yet efficient premise where it serves as a landlord to cannabis operations, offering real estate solutions that are both strategic and lucrative.They take in the money from the cannabis companies and manage it. The company takes a narrow, thin charge for doing that.
Britain’s AI Safety Institute Expands to San Francisco
Facts that matter:
AI Safety Institute expands to San Francisco to address Britain’s regulatory issues.
San Francisco office to bolster AI Safety Institute’s global partnerships.
AI Safety Institute’s U.S. expansion strengthens global AI safety frameworks.
Quick Hit: The primary reason for this expansion is to address the regulatory gaps identified in Britain’s current AI governance. The AI Safety Institute, tasked with ensuring the ethical deployment of artificial intelligence, has faced criticism for its perceived inability to keep pace with rapid technological advancements. The UK government’s spokesperson said, “This expansion is essential to address the regulatory shortcomings and ensure that our AI systems are both safe and effective.”
MSOS Monday: Cannabis News Update
Facts that matter: Join us live every Monday at 4 pm EST for an episode of MSOS Monday Trade to Black with special guest Dan Ahrens from Advisors Shares, the manager of the MSOS cannabis ETF. In this episode, TDR Trade to Black podcast hosts Shadd Dales and Anthony Varrell discuss the recent cannabis company stock and regulatory news and consider how it will affect cannabis stock prices, including the MSOS ETF.