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🧐Florida Will Be Fine 🧐

Author

William McNarland
April 05, 2024

GM Everyone,

Yesterday was, in fact, ugly. We experienced a significant sector-wide pullback that many people were quick to attribute to various factors, though the true culprit remains elusive. There were rumors of WW3 in the broad market, whispers of no rate cuts this year, and to top it off, Desantis spoke out against the adult-use ballot initiative in Florida that many of us have been celebrating. While his words were indeed sharp, his rhetoric was relatively benign. The Governor can express his opinions from now until November, but the people will ultimately have the opportunity to cast their votes. If we surpass the 60% threshold, as we expect to, adult-use cannabis will receive the green light in Florida.

Today’s letter can be read in 8 minutes and 06 seconds. 

  • The Cannabist added another brands partnership to their arsenal

  • The New York cannabis market is a larger mess after yesterday

  • Ripple getting in stable coins is HUGE for crypto

  • Dan The Chartman breaks downs yesterdays action with the crew at 11am today

Capital Markets this Morning:

The futures are up this morning after a down day yesterday, here is what is in focus globally for stocks:

  • Brent crude above $90 a barrel influences global market sentiment.

  • U.S. stock indexes fell over 1% amid high oil prices and geopolitical tensions.

  • Investors weigh geopolitical risks against crucial U.S. jobs data.

  • Hawkish comments from Fed officials hint at possible rate cut adjustments.

  • 10-year Treasury yield dips as investors seek safe-haven assets amidst uncertainty.

Cannabis Stocks: The Cannabist announces a partnership with Edie Parker

The TDR Takeaway: The Cannabist's collaboration with Edie Parker marks a strategic expansion into six new states, introducing a unique blend of fashion-forward cannabis products. This partnership leverages both brands' strengths, potentially tapping into new demographics and broadening their market reach. How could this partnership help The Cannanbist’s earnings this year? Read all about it on the TDR Website? Read the full article on the TDR website!

Cannabis Regulations - Clarification on New York Confusion

The TDR Takeaway: This is our first story on the confusion in New York today, (more to follow in the AI section). For a period yesterday, before clarification, there was a belief that all Cannabis laws in New York had changed. What really occurred and the legal modifications that have taken place? Can New York be like other states and figure out how to smooth out its Cannabis rollout? For the complete article, visit the TDR website.

Psychedelic News: Vancouver Seeks to Regulate Mushrooms

The TDR Takeaway: Once again, Vancouver is leading reform, like they did with Cannabis. In 2015, Vancouver initiated a strategy to regulate illegal cannabis stores, which streamlined the process until federal legalization occurred. The city acknowledges that mushroom use will continue and is proactively considering what was learned from cannabis licensing in 2015 and how to apply those lessons to mushrooms. For more information, visit the TDR website.

Crypto: Ripple to Launch USD Stable Coin

The TDR Takeaway: Is there a need for another USD stablecoin? Ripple believes there is and argues for its creation based on increased transparency and compliance. The market already includes Tether and Circle, yet Ripple promises more frequent third-party verification of assets, although the auditor has not yet been announced. For further details, visit the TDR website. 

AI News: New York's Flawed AI Chatbot Initiative

The TDR Takeaway! Our second story on the confusion in New York addresses a critical question: given the common understanding that AI cannot be wholly relied upon for accurate advice, why did the City of New York believe it could provide reliable guidance to business owners? Now, with disclaimers advising to consult a lawyer, the effectiveness of this approach is in question. For more details, visit the TDR website.

In this episode of the Trade To Black podcast, we will be discussing the recent market pullback with Dan, The Chart Man, from @ChartGuys. Through chart analysis, we will discover where the opportunities still exist, which charts are setting up, and where buyers may re-enter the market

Wednesday’s TDR's Trade To Black podcast features an interview with Rep. Nancy Mace. Our discussion focused on the current wait for cannabis rescheduling, the potential impact of a Trump presidency on the cannabis industry, and the level of access politicians have to the DEA. Get the insights straight from Washington, D.C.