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💸 Big Cannabis Earnings On Deck 💸

Author

William McNarland
March 13, 2024

GM Everyone,

Super Tuesday 2 has come and gone, solidifying Biden's position as the Democrats' nominee for 2024. This raises the question: does he now begin to push his political agenda to attract voters? One would assume so, but the recent actions from the White House have lacked logic. Cannabis may not be a high priority, but it remains a talking point, and we should anticipate some developments between now and, let's say, August. Until then, let's all strive to maintain our sanity. Namaste.

Today’s letter can be read in 6 minutes and 26 seconds. 

  • Ascend Wellness reported strong numbers

  • $BTC is well resilient

  • AYR Wellness join the livestream today

  • Mark Yusko and AV dive into $BTC

Capital Markets Recap of Tuesday:

The TDR Comprehensive Cannabis Index was flat on the day but the TDR Retail Cannabis Index was up 11%!. The TDR $$ Global 50 was up over 1% and the TDR Crypto Miners and TDR Crypto Index were both down around 1%.

Capital Markets this Morning:

What's Driving the Market Today?

The futures are flat and still looking for direction currently, here is what is in focus globally for stocks:

  1. AI stocks surge, Oracle up 12%

  2. US inflation misses forecast

  3. Treasury yields rise sharply

  4. China stocks fall, yuan weakens

  5. Biden, Trump win nominations

Cannabis Capital Markets Price Overview:

The High Flyers yesterday were led by CordovaCann which was up by just over 39%, and the Low Flyers were led by StateHouse, which was down over 20% on the day. Here are the charts of the High and Low Flyers:

Let's examine the highlights from companies in the TDR Comprehensive Cannabis Index!

  1. Chicago Atlantic (NASDAQ: REFI) reports growth in Q4 2023, focusing on strategic expansion and shareholder dividends. Read all about it on the TDR Website!

  2. Ascend Wellness (CSE: AAWH.U, OTCQX: AAWH), Q4 and FY 2023 financial results show industry leading strong growth. Read all about it on the TDR Website!

  3. MariMed (CSE: MRMD, OTC: MRMD) opened a larger, permanent Thrive dispensary in Casey, Illinois, enhancing its cannabis retail presence.

  4. Safe Harbor (NASDAQ: SHFS) originated a $4.6M credit facility for a Michigan cannabis operator, boosting its loan book to over $60M.

  5. Indiva (TSXV:NDVA) launches a second private placement to raise up to $4.094M for corporate and capital expenditure needs.

  6. Earnings continue this week, the calendar is below:

Cannabis: News

  1. Cannabis use before sex improves orgasm difficulty in women, underscoring the need for further research. Read all about it on the TDR Website!

Cannabis Policy: Highlights from our Friends at Marijuana Moment

  1. A Hawaii Senate panel modified a House bill, limiting marijuana expungement to a pilot program in one county instead of statewide automatic expungement.

  2. Washington's Governor Inslee is considering a bill to exempt registered medical marijuana patients from the state's 37% cannabis excise tax on DOH-compliant products.

  3. A study finds teen use of delta-8 THC is higher in states without legal marijuana, with no increase in marijuana use related to state legalization policies.

  4. Bipartisan Congress members criticize the slow implementation of a law intended to ease marijuana research barriers.

  5. Arizona's Attorney General mandates cessation of Delta-8 THC sales in non-dispensary stores, impacting the CBD market.

Psychedelic News:

  1. Numinus (TSX: NUMI, OTC: NUMIF) strengthens leadership to accelerate its innovative mental health care initiatives. Read all about it on the TDR Website!

  2. Arizona House panel advances bill for legalized psilocybin service centers, following Senate approval.

Crypto and Miners

  1. BlackRock's IBIT leads the Bitcoin ETF market with $14.7 billion in AUM, becoming the largest among new funds.

  2. Bitcoin Fog founder convicted for laundering $400m in crypto related to dark web drug sales.

  3. Binance's Changpeng Zhao must surrender Canadian passport as U.S. court alters bail conditions.

  4. Bitcoin could face a sell-side liquidity crisis within six months as ETFs absorb BTC supply, according to CryptoQuant CEO Ki Young Ju.

AI

  1. An alarming report highlights the urgent need for U.S. intervention to prevent AI from posing existential risks, emphasizing regulatory and international solutions. Read all about it on the TDR Website!

  2. Cognition AI raises $21M to launch Devin, an AI that autonomously completes software projects.

  3. Joe Toscano criticizes Google's Gemini AI for launching prematurely and suggests implementing algorithmic audits for transparency.

Big $$ Volume Big Caps

  1. Boeing (BA) faces quality control issues identified by an FAA audit, leading to stock decline and increased regulatory scrutiny.

  2. The Bezos Earth Fund invests $60 million in alternative protein research to enhance sustainability and combat climate change.

Today on 'Trade to Black 4PM ET with Mark Yusko, a guest whose never holds back. We're explaining the Bitcoin halving and its ripple effects across the crypto landscape, with a spotlight on the unforeseen influences of Bitcoin ETFs. With Mark Yusko's expert analysis, explore how these halving events shape price movements and investor sentiment, offering a unique glimpse into the future of cryptocurrency.

On today's Trade to Black Podcast, join us as we explore the future of cannabis with Ayr Wellness CEO David Goubert, dissecting the impact of the latest Q4 earnings on the industry's trajectory.