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😶🌫️ I Can Feel It....... 😶🌫️
William McNarland
March 28, 2024
GM Everyone,
There's something in the air as we approach the last trading day before the long weekend. Yesterday, we witnessed a couple of frivolous hit pieces circulating, attempting to question the integrity of rescheduling. Not only were these pieces false, but the market rallied vigorously toward the close, with several names closing up double digits on the day. This morning, we could also be anticipating another catalyst, as the Florida Supreme Court is set to make remarks at 11 am, potentially issuing a ruling on the FL Adult Use ballot initiative. If approved, this could be viewed as a significant win for the cannabis space, but this is truly when the hard work begins.
Today’s letter can be read in 6 minutes and 26 seconds.
$MSOS broke the $10 level again. Today will be a battle!
Truleive adds another one in Florida
Brady Cobb joined the boys yesterday on stream
Florida state breakdown premiers at 10am this morning over on the YouTube channel
Capital Markets this Morning: $MSOS closed above $10 yesterday!
Brought to you by: $MSOS
The futures are flat this morning, here is what is in focus globally for stocks:
Fed indicates patience in lowering rates, sustaining the dollar's strength against global currencies.
U.S. GDP growth and resilient stock market buoy investor sentiment, S&P 500 hits record high.
Global central banks signal monetary easing, contrasting Fed's stance; impacts on currency valuations noted.
Yellen to address China on the negative impacts of subsidies for clean energy industries.
Reddit's market debut sees bearish bets, stock declines premarket after initial drop.
Cannabis Markets this Morning:
Trulieve (CSE: TRUL, OTC: TCNNF) announces a new medical cannabis dispensary in Cocoa Beach, Florida, opening April 5th.
The TDR Takeaway: Companies are preparing for what could be full recreational approval in Florida. Today, we are hoping to receive news from Florida to see if the Florida Supreme Court has approved recreational use of cannabis. The Florida Supreme Court is facing a deadline to decide on the ballot language for a proposed amendment that would legalize recreational cannabis for adults over 21. This ruling, due by April 1, could enable Floridians to vote on the issue. Read all about it on the TDR Website!
Cannabis Markets this Morning:
Schwazze's (OTC: SHWZ, CBOE: SHWZ) revenue grew 8.1% to $172.4 million in FY 2023, with a 31% EBITDA margin and a 50% rise in dispensaries.
The TDR Takeaway: With a 50% increase in stores and only an 8.1% rise in revenue, lower average spend is evident. We know that the stores were not open each for a full 12 months, but it is a trend to keep a close eye on. Read all about it on the TDR Website!
Cannabis Markets this Morning:
Rubicon Organics (TSXV: ROMJ, OTCQX: ROMJF) reports a 2023 net revenue of $40.1M and an adjusted EBITDA of $4.4M. Their achievements reflect a solid position in the premium cannabis market and diversification efforts.
The TDR Takeaway: Rubicon's strategy of focusing on premium brands and pricing appears successful, making it a notable case amidst competition in the cannabis industry. Read all about it on the TDR Website!
Cannabis Politics this Morning:
88% of Americans support marijuana legalization for various purposes. The trend crosses age and political lines, reflecting growing consensus on its societal benefits.
The TDR Takeaway: No wonder Federal Legalization is becoming such a big thing in an Election year with this much support! Read all about it on the TDR Website!
Psychedelics this Morning:
The University of Calgary explores psychedelics and therapy for alcohol use disorder. This could shift AUD treatment towards brief, impactful interventions.
The TDR Takeaway: It's encouraging to see increased research and trials on the potential of psychedelics to treat addictions, with universities contributing to the credibility of these studies. Learn more on the TDR website.
Crypto this Morning:
ARK 21Shares Bitcoin ETF sees a record $243.5M inflow as Bitcoin nears $72,000. This surge highlights growing institutional interest and optimism in cryptocurrency's future.
The TDR Takeaway: Increased growth and assets in ETFs are likely to raise the chance of Bitcoin reaching new highs. Monitor this key metric closely as it may predict Bitcoin's price movements.
AI this Morning:
Ron Insana's iFi AI introduces AI trade ideas, revolutionizing individual trading decisions. Leveraging IBM's WatsonX, it distinguishes itself in a competitive tech-financial market.
The TDR Takeaway! Watch this trend closely, AI trading for retail investors, we are only a couple of years away and this will change everything! Volume levels will go up and so will volatility!
In this special episode of TDR Trade to Black, we continue our journey through the the cannabis markets across different states, turning the spotlight on the Florida Cannabis market. Discover the major players, understand the licensing landscape, and unravel the market dynamics of the Sunshine States cannabis industry.
On yesterday’s Trade To Black podcast, we dissect the stance of three Republican senators—Mitt Romney, James Risch, and Pete Ricketts—pressing the DEA to dismiss the proposed marijuana rescheduling, citing potential international treaty conflicts and global drug law enforcement implications. We then shift gears to celebrate Germany's landmark move towards cannabis legalization. Additionally, we feature an exclusive interview with Brady Cobb, the Founder & CEO of @sunburncannabis, on the evolving landscape of the cannabis industry.