- Baked In
- Posts
- Friday Eve
Friday Eve
William McNarland
February 22, 2024
GM Everyone,
$NVDA beat earnings and guided up once again. Cue the dance music and let the party resume. For now. However, cannabis was a mixed bag yesterday. We saw some green matched with a decent amount of red across the sector (albeit no real big moves to the downside) as we wait for our beloved S3 to get announced. Another groundhog chose to rear its head yesterday as ATB Capital Markets put out a note insisting they still see it happening “any day now” and reiterated their guidance for the end of Q1. Love the optimism, but the psyche of the industry can’t really take another false start. So for now, let’s just let it be and get back to the things that matter like these juicy headlines.
This mornings letters highlights:
California is giving the people accurate industry data
$ETH ETF is good right?
$NVDA breaking records
$MSOS Wednesday was chock full of takeaways
Cannabis Capital Markets
Tilray Brands Inc. (NASDAQ: TLRY, TSX: TLRY), announces that its subsidiaries, 10 Barrel Brewing Co. and Widmer Brothers Brewing, have become the official craft beer partners of the Portland Timbers through a multi-year deal that introduces the first standing room only section and various fan engagement features at the stadium.
Cannabis Policy
California's Department of Cannabis Control launched a comprehensive online marijuana dashboard offering detailed data on sales, pricing, licensing, and harvests to inform consumers, stakeholders, and lawmakers about industry trends.
The Arkansas Advocate reports that Arkansas Attorney General Tim Griffin has approved revised language for a November ballot initiative aimed at expanding medical marijuana access, allowing signature collection to begin for measures including home cultivation and broader qualifying conditions.
Cannabis News and Studies
Like food, with cannabis you just can’t trust the government to protect you….
The Wall Street Journal reports that despite marijuana legalization, users face health risks from contaminants like mold, pesticides, and heavy metals, with varying state regulations and a lack of federal oversight contributing to the issue.
"Outside" reports new research indicating that cannabis use does not enhance, and may actually impair, endurance performance, challenging previous notions and highlighting the complexity of its effects on athletes.
A study comparing THC and LSD's effects on neural complexity found THC does not share the psychedelic properties of LSD based on brain activity.
Cryptocurrency
The approval of Ether exchange-traded funds in the US could exacerbate the Ethereum ecosystem's concentration problem, potentially leading to operational risks due to the centralization of staked tokens with a few providers, according to S&P Global.
Hack VC secured $150M to invest in early-stage crypto and AI startups, with a focus on DeFi, RWA tokenization, blockchain infrastructure, and projects improving scalability, security, and usability. Read all about it on the TDR Website!
AI
Nvidia Corporation (NVDA) announced that it will integrate Google's new Gemma AI model technology into its "Chat with RTX" app, optimizing it for PCs with Nvidia GPUs to enhance user interaction with personal files securely and privately.
The Google One AI Premium plan now offers Gemini integration in Gmail, Docs, Slides, Sheets, and Meet to enhance productivity and creativity, available in over 150 countries for $19.99/month, including additional benefits like 2TB storage and a two-month free trial.
Big $$ Volume Big Caps
Nvidia record-breaking $22.10 billion revenue, driven by its dominance in the AI market, successfully navigates export restrictions. Read all about it on the TDR Website!
Media companies are implementing layoffs to cut costs and improve profitability, as challenges in streaming profitability and market shifts lead major firms like Paramount, Google and Disney to reduce their workforce. Read all about it on the TDR Website!
Join TDR’s Trade to Black Podcast for a must-needed episode featuring $MSOS legend, Dan S. Ahrens! He is the Managing Director & Chief Operating Officer of AdvisorShares ETFs!
We will be chatting about the following:
Aurora Cannabis Completed 1 for 10 Reverse Stock Split
Virginia House and The Great Compromise
Maryland Senate Passes Bill to Protect Gun Rights for MMJ Users
In this special episode of TDR’s Trade to Black podcast, we explore the dynamic of the cannabis market in Pennsylvania. Our guest Anthony Coniglio, CEO of New Lake Capital, joins in as we dissect the intricacies of the Pennsylvania market.
Thanks for reading today’s Baked In—see you soon!
Written by Bill McNarland and Anthony Varrell