📈 MSO Monday's 📈

GM Everyone,

We're just a little over a week away from cannabis earnings season heating up, and we absolutely can't wait for it to arrive. Shifting the focus to the fundamental story of the industry versus the regulatory uncertainty we're currently hanging on every thread will be a relief. Last time around, we gained some key insights into things such as Trulieve’s tax returns and a slowing retail market in New Jersey. These insights should add to some interesting dialog this time around as we anticipate updates from the top MSOs regarding their tax strategy. As we eagerly anticipate this next phase, let's stay tuned for what promises to be an insightful and revealing earnings season. See you then!

Today’s letter can be read in 5 minutes and 25 seconds. 

  • SAFER is officially in its “stalled” phase

  • The cannabis movement at the state level continues to march on

  • Small Cap Sundays kicked off yesterday over on YouTube

  • BNY Melon has entered the Bitcoin age

Capital Markets this Morning:

The futures are just slightly green this morning, here is what is in focus globally for stocks:

  • Federal Reserve Expectations: Market anticipates the Federal Reserve's upcoming meeting with low expectations for U.S. interest rate cuts this year.

  • Treasury Market Movements: U.S. Treasury yields adjusting as investors await details on the Treasury's refunding plans and potential bond buyback program.

  • Earnings Season Dynamics: Strong corporate earnings led by tech giants like Microsoft and Tesla bolstering Wall Street's performance.

  • Upcoming Economic Data: Focus on the U.S. labor market with an anticipated robust payroll report, influencing investor sentiment.

Cannabis Policy: SAFER Banking Bill Stalls: What's Next for Cannabis Banking?

The TDR Takeaway:  The SAFER Banking Bill attached to the FAA Bill appears to be dead. What is the next strategy, and how realistic is it? Get Anthony's take and more in this story. For additional details, visit the TDR website.

Cannabis Policy: US State Legislation Cannabis News for Louisiana, Hawaii, Georgia

The TDR Takeaway: There were significant updates regarding cannabis legalization at the state level last week. Learn about the latest changes in Louisiana, Hawaii, Georgia, and Kansas. Does this surge in state-level activity heighten the urgency for federal legalization? For more details, visit the TDR website! 

Psychedelics: Psychedelic Therapy Advancements in Alberta

The TDR Takeaway: The St. Albert Gazette featured an article about the introduction of psychedelic therapy in Alberta, Canada. Alberta stands out as one of the few locations worldwide where non-ketamine psychedelic therapy is legal and eligible for insurance coverage. Is Alberta’s model of legalization and insurance coverage the model for the world to follow? Read about it on the TDR website!

Crypto: BNY Mellon's Green Lights Bitcoin

The TDR Takeaway: Athletic director from Maryland who allegedly thought it would be a groundbreaking idea to use AI to impersonate a principal’s voice in a racist and antisemitic rant. Brilliant, right? What can we learn from this misuse of AI? Read about it on the TDR website!

AI: AI Regulation Urgency Exposed by Baltimore Misuse

The TDR Takeaway: Athletic director from Maryland who allegedly thought it would be a groundbreaking idea to use AI to impersonate a principal’s voice in a racist and antisemitic rant. Crazy, right? What can we learn from this misuse of AI? Read about it on the TDR website!

Small Cap Sunday: Global Overview + Corby Distilleries

Join us for our inaugural Small Cap Sunday where we introduce our new feature podcast. Each week, we will explore compelling small cap stocks worldwide. This week, we share highlights from our research on Corby Distilleries (TSX:CSW.A, OTC:CRBBF), a Canadian alcohol beverage company with a dividend of above 6% and a compelling new growth strategy in the ready-to-drink cocktail segment. Here is the link!

Trade To Black - Cannabis Stock and State Legalization Update

Friday’s live episode featured Dan the "Chart Man" from @chartguys who will discuss the recent cannabis stock sell-off. Additionally, co-hosts Shadd Dales and Anthony Varrell provided updates on efforts to legalize cannabis in South Carolina, Louisiana, and Hawaii. We will also chat about if the SAFER Banking Act bill is dead and the comments made by US Vice President Harris. Here is the link!