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- 📈 Curaleaf Is On Deck💸
📈 Curaleaf Is On Deck💸
William McNarland
March 05, 2024
GM Everyone,
Cannabis earnings season is in full swing, and we have the last of the Tier 1 companies on deck to report tomorrow: Curaleaf. Boris Jordan is never one to mince words or refrain from putting on a show during the earnings call, so we are eager to hear his perspective on the wide world of Curaleaf. We should receive plenty of insight into Germany (which we are eager to see) and gain insight into how they are guiding for 2024 from a revenue and strategy perspective. Batter up, Boris!
Today’s letter can be read in 6 minutes and 42 seconds.
TDR Indices are growing like a weed
Cannabis continues to beat up beer
The misinformation due to AI is in full swing
Virginia market deep dive premiers today at 4pm
Capital Markets Yesterday Review:
We now have eight TDR Indexes covering stocks and investments of interest to our readers. They assist us at TDR in tracking the market but, more importantly, save you, our reader, time, as this detailed information is not available elsewhere. We designed them to be unique and straightforward. So, here we go...
The leading sector was Crypto, which saw a return of 4.6% for the TDR Crypto Index. In contrast, the overall Cannabis market declined, as indicated by a -1.6% decrease in the TD Comprehensive Cannabis Index. Specifically, Cannabis retailers experienced the most significant drop, with the TDR Retail Cannabis Index decreasing by -1.9%. Below is our chart of the TDR Indexes, which remains in TDR Green colors, even on a down day.
Capital Markets this Morning:
What's Driving the Market Today?
The futures are showing a negative open currently, here is what is in focus:
Fed's hawkish stance on rate cuts
Tech stocks dip; AI optimism fades
China's economy measures underwhelm
Super Tuesday primaries in focus
Gold nears record; Bitcoin slips
Cannabis Capital Markets Price Overview:
The High Flyers yesterday were led by Body and Mind, which was up by just over 20%, and the Low Flyers were led by StateHouse, which was down over 17% on the day. Here are the charts of the High and Low Flyers.
This week, the earnings season is heating up quickly. Here is a reminder of who is reporting this week.
Let's examine the highlights from companies in the TDR Comprehensive Cannabis Index!
High Tide (Nasdaq: HITI, TSXV: HITI) opens its 164th Canna Cabana store in Mississauga, Ontario, Canada.
Skye Bioscience (OTCQB: SKYE) announces the appointment of Dr. Annalisa Jenkins to its Board of Directors, enhancing leadership in drug development.
Indiva (TSXV:NDVA) has completed the first tranche of its private placement, raising $906,000 by issuing 9,060,000 units.
MariMed (CSE: MRMD, OTC: MRMD) launches Ache Away Eddies PM, an all-natural, orange creme fruit chew for pain relief and better sleep.
Avant Brands (TSX:AVNT, OTC:AVTBF) welcomes Tyson Macdonald to its Board, enhancing the company's strategic and global outlook.
Aurora (Nasdaq: ACB, TSX: ACB) launches medical cannabis pastilles in Australia, expanding patient care options.
Planet 13 (CSE: PLTH, OTC: PLNH) initiates a public offering of units for corporate expansion and working capital.
Marijuana legalization leads to a noticeable decline in beer sales, indicating changing consumer preferences. Read all about it on the TDR Website!
Cannabis Policy Highlights from our Friends at Marijuana Moment:
NHTSA report doubts THC concentration as a reliable measure for driving impairment, highlighting research gaps.
Custom Cones USA offers a $70,420 job to test cannabis and create content.
Nevada opens its first legal marijuana lounge with a lawmaker's symbolic joint at 4:20 pm.
Delaware plans to amend marijuana law to speed up industry setup and consider dual licenses for dispensaries.
NJ group sues town over cannabis sales approval, citing federal law conflict.
Cryptocurrency
Over 97% of Bitcoin addresses profit from recent rally, per IntoTheBlock data.
Bitcoin's rally, driven by ETF demand, nears its all-time high, unaffected by GBTC outflows.
AI
Trump supporters use AI-generated images to falsely portray black voter support for the former president.
Anthropic's Claude 3 AI models redefine industry standards with groundbreaking speed, power, and multimodal analysis capabilities. Read all about it on the TDR Website!
Big $$ Volume Big Caps
Apple (NASDAQ:AAPL) reports a 24% drop in iPhone sales in China in early 2024, amidst strong competition from Huawei. While also introduces 13-inch and 15-inch MacBook Air models with M3 chip, starting at $1,099 and $1,299 respectively.
Walt Disney (NYSE:DIS) shares rise as Trian Fund Management releases a plan to improve governance and financial performance.
Jeff Bezos reclaims the title of world's richest person over Elon Musk as Tesla (NASDAQ:TSLA) stock drops and Amazon (NASDAQ:AMZN) maintains strong sales growth.
Join TDR's Trade To Black Podcast for an essential episode featuring two significant interviews. First, Aaron Miles, Chief Investment Officer from Verano Holdings, joins us to discuss the company's latest earnings. Then, Dan Ahrens from AdvisorShares $MSOS, will talk about the industry and answer questions from you, the viewer.
Our special episode of TDR's Trade To Black podcast breaks down the Virginia cannabis market. Our guest Anthony Coniglio, CEO of NewLake Capital, joins in as we dissect the next moves in Virginia.
Thanks for reading today’s Baked In—see you soon!
Written by Bill McNarland and Anthony Varrell