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🤣 The Big Guy Said The C Word 💸

Author

William McNarland
March 08, 2024

GM Everyone,

Well, we got what we all wanted to see last night, ladies and gentlemen. The Big Guy mentioned cannabis in the SOTU not once but twice and uttered the words 'rescheduling'. Thank you, Joe, but as we all know all too well in this industry, words are cheap, and it's time to show us you mean what you say. You have now let the cat out of the bag on one of the biggest stages before the election comes into full swing. This isn’t the first time you've talked the talk; now it's time, sir, to walk the walk and put this into action. We’re all waiting…

Today’s letter can be read in 8 minutes and 46 seconds. 

  • The TDR Crypto Miner Index is live

  • Rate cuts could be on deck….. RISK ON

  • Matt Darin of Curaleaf joined us yesterday on the livestream

  • Don Murphy joining us at 11am today to talk SOTU

Capital Markets Recap of Yesterday:

We now have nine TDR Indexes covering stocks and investments of interest to our readers. Yesterday, we launched the TDR Crypto Miners Index. These indexes help us at TDR track the market and, importantly, save you, our reader, time, as this detailed information is not available elsewhere. We designed them to be unique and straightforward.

Yesterday, the capital markets increased by nearly 1% as indicated by the TDR $$ Global 50 Index. The lesser known S&P 500, also set record highs. Apart from cannabis, cryptocurrencies saw a slight increase, although crypto miners experienced a 2.6% decline. The TDR Comprehensive Cannabis Index dropped by 0.2%, and other cannabis sectors remained nearly unchanged, except for the TDR Cannabis Pharma Index, which fell by 4% during the day.

Capital Markets this Morning:

What's Driving the Market Today?

The futures are showing a slightly positive open currently, here is what is in focus:

  1. Feb jobs data anticipated

  2. Powell hints at rate cuts

  3. ECB forecasts earlier cuts

  4. S&P 500 at new high

  5. Gold prices continue rise

Cannabis Capital Markets Price Overview:

The High Flyers yesterday were led by Leef which was up by just over 12%, and the Low Flyers were led by CordovaCann, which was down over 22% 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. Manitoba Harvest, a subsidiary of Tilray (Nasdaq: TLRY) launches Superseed Instant Oatmeal, expanding its plant-based breakfast options with three flavors.

  2. AFC Gamma (AFCG) reports a 2023 Q4 GAAP net loss of $9.2M and full-year net income of $21M, with a declared Q1 2024 dividend of $0.48 per share. Read all about it on the TDR Website!

Cannabis: News

  1. Minnesota's retail cannabis sales start may be delayed beyond early 2025 due to regulatory and licensing processes.

Cannabis Policy: Highlights from our Friends at Marijuana Moment

  1. Florida lawmakers passed a bill restricting hemp products and banning delta-8 THC, despite opposition and potential impacts on the hemp industry.

  2. Senate Majority Leader Schumer reports productive talks on the bipartisan marijuana banking bill, with optimism for its passage this year. (Not a repeat story from yesterday, was actually a new story, lol!)

  3. A Montana judge ruled lawmakers should have a chance to override the governor's veto of a marijuana revenue bill.

  4. Colorado moves closer to allowing marijuana users to get concealed carry permits with a proposed ballot initiative.

  5. Arizona legislators narrow down marijuana-related bills to five, focusing on advertising restrictions and regulating hemp production amidst industry disputes.

  6. Virginia's legislature sent Governor Youngkin bills for legal cannabis sales, resentencing for cannabis crimes, employment protections, and parental rights, awaiting his decision.

  7. Maryland legislators consider a bill to protect medical marijuana patients' gun rights under state law, despite federal restrictions.

  8. A GOP congressman praised the House's approval of a package encouraging the DOJ to study state marijuana laws in preparation for federal legalization.

  9. Virginia's bill to legalize marijuana sales faces uncertainty as negotiations with Governor Youngkin collapse following Democrats' rejection of an unrelated arena plan.

Crypto and Miners

  1. The SEC has postponed its decision on allowing options trading for spot Bitcoin ETFs until April 24, affecting requests related to BlackRock's iShares Bitcoin ETF and a similar proposal by CBOE.

  2. Jerome Powell indicates a Central Bank Digital Currency (CBDC) is not expected in the near future, while Solana shows market recovery signs and Rebel Satoshi introduces new crypto opportunities post-successful presale.

  3. Bitfarms reveals growth in Q4, focusing on efficiency and strategic expansion despite industry challenges. Read all about it on the TDR Website!

AI

  1. The Canadian Chamber of Commerce criticizes the lack of testimony from local businesses on Canada’s AI Bill.

  2. Elon Musk proposed OpenAI merge with Tesla or grant him full control, leading to his departure and a lawsuit against the company. Read all about it on the TDR Website!

Big $$ Volume Big Caps

  1. Disney (NYSE:DIS) battles boardroom challenges while CEO Bob Iger seeks to unify leadership amidst ongoing corporate and market shifts.

  2. Costco (NASDAQ:COST) reports Q2 Non-GAAP EPS of $3.71, beating estimates by $0.07, but $58.44B revenue falls short by $690M.

  3. The EU Commissioner deems the Apple vs. Epic Games conflict a priority, examining Apple's termination of Epic's account under the new Digital Markets Act.

On Today's Trade To Black, we are joined by "Dan, The Chart Man," from @ChartGuys & get a Washington update from the Don Murphy! We got a great discussion from last night's State of Union, technical stock chart analysis, & look into MariMed Q4 earnings.xciting developments await in 2024.

We dove deep into Curaleaf's Q4 earnings, uncovering the strategies propelling the company forward. Discover how Curaleaf plans to sustain its growth trajectory and what exciting developments await in 2024.

On today's episode of TDR's Trade To Black podcast, we're joined by Payton Nyquvest, Founder and CEO of Numinus Wellness (OTCMKTS: NUMIF), to explore MindMed's groundbreaking announcement from their Phase 2B trial. Take a look into the implications of MindMed's compelling data for anxiety treatments and the broader industry, highlighting the transformative potential of psychedelics in mental health innovation.