💸 The Tape

It's been a rollercoaster since cannabis stocks got their initial boost on Tuesday, thanks in part to a $14 million inflow into the AdvisorShares $MSOS ETF. Meanwhile, $AYRWF has been basking in consistent investor attention, with many (myself not included) crowning it as the next big winner behind Trulieve if Amendment 3 passes and Florida embraces adult-use cannabis.

#YesOn3 – In other news, Governor DeSantis has made headlines regarding Amendment 3. While his opposition continues, an interesting twist comes from Laura Loomer, who is vocally supporting the amendment and emphasizing alignment with Trump.

It's ironic to see some of the MAGA crowd jumping on the cannabis bandwagon, but perhaps it's a testament to shifting political sands. Either way, it's a net positive—we need to keep the pedal to the metal and bring this home on November 5.

Courtroom Drama – We've got oral arguments scheduled in the Canna Provisions lawsuit for December 5th, just three days after the ALJ hearings kick off. Exciting times ahead! As some legal eagles are saying, "We think the United States Supreme Court could overrule the marijuana provisions of the CSA if presented with the right case. That case is now making its way through the federal courts and seems to be on a collision course with the High Court."

With the recent tossing of the Chevron Deference, we could be in for some very interesting days in court, depending on how the judges lean. The momentum behind this case is historic, but I'm not betting on it being a sector "catalyst" just yet.

David Klein Interview - Canopy Growth CEO Talks Future of Company

Tim Walz is on the campaign trail quoted “Marijuana Legalization Should Ensure Communities Harmed By Criminalization Get ‘First Shot To Make Money,’”. Which I agree with wholeheartedly, but first off, this is the cannabis industry—is that "money made" in the room with us right now? Secondly, the social equity programs need to be restructured to ensure the success of the applicants, as many state programs have already failed their people despite their good intentions.

📈 Dog Walkers

High Tide Expands GTA Footprint

High Tide Inc. is lighting up the competition—literally. Opening its 186th Canna Cabana location, and first in Kingston, Ontario, the company is strategically planting its flag in a city with over 30,000 post-secondary students. Launching at the fitting time of 4:20 PM on Halloween, they're not just handing out candy this year. Nestled among retail heavyweights, this new store is poised to capitalize on high foot traffic. CEO Raj Grover is clearly playing chess, not checkers, focusing on organic growth in untapped markets. With plans to roll out more Cabanas before year's end, High Tide is riding high and aiming higher.

Verano Is All Systems Go In Connecticut

Verano Holdings Corp. is lighting up Connecticut’s cannabis scene with its Zen Leaf Waterbury dispensary finally getting the green light for adult-use sales. Kicking off the festivities with a ribbon-cutting at 10:30 a.m. on October 25th, they’re rolling out the red carpet—or should we say green?—for customers with complimentary coffee, donuts, and Connecticut’s famous Ted’s steamed cheeseburgers. Throw in a live glassblowing demonstration and you’ve got a grand opening that's hot. With perks like digital kiosks, 95 extra parking spaces, and the state's leading 22% veteran discount, Verano is clearly not just planting seeds but cultivating a booming customer base. All the while capturing valuable consumer data via the cabbage club might I add.

Curaleaf Drops The Hammer Backed Up By Data

Curaleaf International is urging the UK government to step up its game against the booming illicit online cannabis market—a bit like asking them to finally fix that leaky faucet. Illegal online sales have skyrocketed by 50% in the past two years, with 73% of buyers seeking relief from conditions like chronic pain and anxiety. Ironically, many could legally obtain medical cannabis but opt for the dark web's mystery box instead. One in five consumers believe illegal cannabis is safer than the regulated kind—akin to thinking bootleg moonshine is healthier than fine Scotch. Curaleaf proposes a four-pronged strategy: tighten regulations, launch public awareness campaigns, improve patient access, and expand medical research. It's high time we weed out the bad actors and cultivate a safer market.

Cybin Expands IP Portfolio

Cybin Inc. just locked down U.S. patent '741, wrapping their lead preclinical CYB005 phenethylamines in a nice legal bow. While others are lost in hallucinations, Cybin is keeping it sober with non-hallucinogenic doses targeting CNS disorders. CEO Doug Drysdale isn't just playing checkers; he's playing 4D chess by expanding beyond their clinical tryptamine programs. Their main gigs, CYB003 and CYB004, are still center stage, but CYB005 is the dark horse that could tackle unmet medical needs. And let's not forget their research got a nod in the Journal of Medicinal Chemistry. Cybin isn't just making noise—they're making patents and potentially revolutionizing mental healthcare.

RIV Capital Is Smoking

RIV Capital is doubling down—literally. The company reports that year-to-date net revenue as of October 23, 2024, has doubled compared to the same period last year. With record revenues in Q3 and milestones like record retail transactions and wholesale accounts, they're not resting on their laurels. The opening of new dispensaries in Kingston and Manhattan bolsters their retail footprint. Expanding their wholesale business to over 50 customers and striking a distribution deal with Nabis, RIV Capital is clearly on a roll. They've achieved cost savings and synergies ahead of schedule, making their upcoming merger with Cansortium smoother than a premium cannabis blend. With New York Control Board approval in hand, RIV Capital is set for a strong finish to 2024. Investors should note these figures are preliminary and unaudited, but the momentum suggests RIV Capital is keeping up its side of the bargain in the concrete jungle.

👾 Number Of The Day

$77.9M Dollar amount of edibles sold in NV over the last year.

🗞️ The News

High Tide to Open First Canna Cabana in Kingston, Ontario

Verano Commences Adult Use Cannabis Sales at Zen Leaf™ Waterbury in Connecticut

Curaleaf Report: Online and unregulated cannabis poses serious health risks with mould, lead, and synthetic cannabinoids detected

Snoop Dogg Confirms He Has A Staffer Who Makes Sure People He’s Smoking Marijuana With Don’t Get Too High

Marijuana Legalization Should Ensure Communities Harmed By Criminalization Get ‘First Shot To Make Money,’ Tim Walz Says

📺 YouTube

Cannabis News: Senator Gruters Urges Floridians to Vote Yes on 3 | Trade to Black

What we covered:

✅ Florida Senator Joe Gruters joins us to talk about why Floridians need to vote #YesOn3 as we approach the U.S. federal election on November 5th.

Gruters will outline how this amendment would benefit the state of Florida, the tax revenue that will be generated from Amendment 3, and how Florida could become one of the largest legal cannabis markets in the world.

We’ll also discuss the likelihood of Amendment 3 passing and what impact it would have on the overall perception and stigma of cannabis across the country.

Additionally, we’ll cover recent events involving Governor Ron DeSantis’s views and comments on Amendment 3, and if it passes, what he might do regarding hemp companies that have exploited loopholes in the current structure of the Farm Bill.