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- Mighty Monday
Mighty Monday
William McNarland
February 26, 2024
GM Everyone,
It's official: Germany has legalized cannabis for adult use. Kinda. The system that the Germans are rolling out is by no means as robust as what we have seen in the U.S. in terms of an adult-use market. But it certainly makes a great headline and adds a notch to the belt of breakthroughs we have made globally on the legalization front. So for that, we all thank you (Ze Germans) for passing progressive cannabis reform and giving the people what they clearly wanted (we're looking at you, Biden)…
This mornings letters highlights:
German legalization has finally passed
Potential $ETH catalyst on the horizon
Don Murphy dispelled the rumors on the latest TTB episode
$NVDA put the market on its back. Literally.
Cannabis Capital Markets Price Overview:
Yesterday was an overall Positive day for the TDR Comprehensive Index. Leading the gains were companies within the TDR retail Cannabis Index, while those in the TDR Financial Index lagged behind.
The top and bottom performers in the TDR Comprehensive Cannabis Index are as follows: CordovaCann experienced a significant rebound from the previous day, surging over 40%, whereas StateHouse fell by more than 16%.
Cannabis Capital Markets News
Cresco Labs Inc. (CSE:CL, OTC:CRLBF) announced the opening of a new Sunnyside dispensary in Gettysburg, Pennsylvania, expanding its retail presence to 15 locations in the state and 72 nationwide.
Medicine Man Technologies, operating as Schwazze (OTC: SHWZ, (NEO: SHWZ), appointed Forrest Hoffmaster, currently CFO, as interim CEO following Nirup Krishnamurthy's resignation for personal reasons.
Cannabis News, Policy and Studies
Germany legalizes recreational cannabis with strict rules to address health concerns, limit access, and potentially impact the black market. Read all about it on the TDR Website!
Private cannabis retailers in British Columbia express concern over government-operated stores incurring losses, fearing unfair competition and lack of transparency in financial operations could disadvantage independent businesses.
Cannabis Policy Highlights from our Friends at Marijuana Moment:
Rep. Shelley Kloba (D) remains committed to introducing new marijuana homegrow legislation in Washington State after the failure of a recent bill that would have allowed personal cultivation, despite facing consistent setbacks in past sessions.
Maryland lawmakers are considering legislation that would prevent employers from penalizing workers for off-duty marijuana use and discriminating against individuals with prior cannabis-related convictions.
A Virginia Senate panel advanced a compromise bill to legalize retail marijuana sales, following its approval in a House panel, aiming to send the legislation to Governor Glenn Youngkin despite his reluctance.
Pennsylvania's Agriculture Secretary Russell Redding expressed enthusiasm about the prospect of his department regulating an adult-use marijuana market, emphasizing the state's agricultural capabilities and viewing legalization as an economic opportunity.
Cryptocurrency
Grayscale Research views the upcoming Dencun upgrade as a pivotal development for Ethereum, enhancing its modularity and reducing transaction costs, solidifying its position despite growing competition from other blockchain networks.
Newly released emails from bitcoin creator Satoshi Nakamoto caution against labeling bitcoin as an "investment" and suggest using the term "cryptocurrency" while expressing concerns over promoting its anonymity features.
AI
Nvidia's market value reached $2 trillion due to high demand for its AI-related products, positioning the chipmaker nearly equal to the entire Canadian economy's GDP.
UK Home Secretary James Cleverly warns that AI-generated deepfakes could be used by foreign states like Russia and Iran to manipulate elections and disrupt democratic processes globally.
Big $$ Volume Big Caps
Nvidia's strong earnings have elevated stock markets, with investor focus now shifting to upcoming inflation data and potential Federal Reserve responses. Read all about it on the TDR Website!
Microsoft has signed a four-year partnership with Hong Kong insurer FWD Group to provide generative AI solutions through its Azure platform, emphasizing its commitment to integrating AI technology in Asia's financial services sector.
Cathie Wood's Ark Autonomous Technology and Robotics ETF sold shares of Taiwan Semiconductor Manufacturing Corp. and Nvidia Corp., adjusting its investment strategy amid a global surge in interest for artificial intelligence technologies.
Intel announced a new Edge Platform at MWC 2024, designed to simplify the development, deployment, and management of edge AI applications, enhancing enterprises' ability to scale AI solutions with cloud-like simplicity.
Cannabis lead lobbyist Don Murphy joins us on the latest Trade To Black Podcast to discuss the hypocrisy involving the current administration believing that they have changed federal marijuana policy federally.
Join TDR's Trade To Black Podcast for an in-depth conversation with Ispire Technology Co-CEO Michael Wang. He outlines the latest earnings report, featuring 30% growth from the previous quarter, and shares his belief that the company will be producing a $1 billion dollars in revenue in the next 2 years.
Thanks for reading today’s Baked In—see you soon!
Written by Bill McNarland and Anthony Varrell