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šŸ§ Washington Continues To Confuse šŸ§

Author

William McNarland
April 16, 2024

GM Everyone,

Yesterday, the White House Press Secretary once again confused everyone with her comments. During a press conference, when asked about the rescheduling initiative underway, she answered, ā€œThe scheduling review is now with DOJ, and any input should be certainly directed to them at a time and in a manner they say is appropriate.ā€ This led some to believe it was an advancement of the initiative from the DEA to the DOJ, but really, it could still be idle over at the DEA, as they fall under the DOJ umbrella. So, technically, she wasnā€™t wrong. If all of that confused you, then we are on the same page. I think it's time for all of us to just relax and stop listening to the people in Washington, outside of Anne Milgram herself, because no one outside of her really knows what's going on.

Todayā€™s letter can be read in 6 minutes and 56 seconds.Ā 

  • Is SAFE becoming a bipartisan issue?

  • Canopy Growth got the votes they needed to roll out CUSA

  • Capitol Hill interview video dropped yesterday and full of insider information from top lawmakers.

  • Our fireside chat with Rep. Cardenas is coming out at 4pm today.

Capital Markets this Morning:

The futures are up this morning. Here is what is in focus globally for stocks:

  • Global Currency Shifts: The euro, yuan, and sterling fall to their weakest against the dollar since November, while the yen drops to a 34-year low.

  • Chinese Economic Woes: China's economy shows mixed signals with lower-than-expected industry and retail growth in March, while GDP growth exceeds forecasts.

  • Interest Rate Speculation: Amid rapid U.S. growth, Fed rate cut expectations are dialed back, increasing speculation on other central banks easing first.

  • Market Volatility: U.S. stock market volatility rises with concerns over interest rates, earnings outlooks, and geopolitical tensions, pushing indices lower.

TDR Exclusive: Republican and Democrat Senators' Views on SAFE Banking

The TDR Takeaway: Ā Last week, the TDR team was in Washington, DC, to gather firsthand insights for this exclusive to learn directly about both Republican and Democrat senators' views on SAFE Banking. We thank Cannabis Lobbyist Don Murphy for his assistance in arranging interviews. TDRā€™s Shadd Dales interviewed current and former senators from both parties, such as JD Vance, Steve Daines, Rand Paul, Robert Menendez, and Cory Gardner. For more details, visit the TDR website.

Cannabis Capital Markets:Ā Shareholders Back Canopy Growth's U.S. Market Expansion Plan

The TDR Takeaway: Ā At TDR, we closely followed this story and shared the initial plan and its amendments, discussed it live with CEO David Klein. So, we were not surprised by this outcome, especially after the endorsement from Glass Lewis. In addition, Canopy Growth has experienced positive developments such as the legalization of cannabis in Germany and the recent unwinding of short positions, which has seen the stock rise over 90% in the last 30 days.Ā For more details, visit the TDR website!Ā 

Cannabis Capital Markets:Ā Avant Brands Earnings Surpasses ForecastsĀ 

The TDR Takeaway: Ā Avant Brands has yesterday announced a strong first-quarter earnings performance for 2024 after solid FY 2023 results announced six weeks ago. The company achieved growth by expanding its international reach and operational efficiencies. The company's gross revenue outperformed initial forecasts, reaching $8.9 million, with a notable 15% increase in net revenue, totaling $8.1 million. This growth was further highlighted by a surge in international sales, which rose 21% to $3.3 million, accounting for a considerable portion of the total revenue.Ā For more details, visit the TDR website!Ā 

Psychedelics:Ā A DEA Hearing in 2024 Discussing the Fate of Two Psychedelics

The TDR Takeaway:Ā The upcoming DEA hearing on June 10, 2024, will determine the classification of two hallucinogens, potentially impacting research and policy.Ā Panaea Plant Sciences oppose the DEA's proposal and are suing the DEA, arguing it restricts scientific progress and treatment innovations. This will be an interesting development to watch.Ā For more information, read about it on the TDR website!

AI:Ā Elon Musk's Grok-1.5V: Pioneering Advanced Image Analysis

The TDR Takeaway: Elon Musk earlier this month predicted that AI would surpass human intelligence earlier than expected. Yesterday, his xAI backed company unveiling of Grok-1.5V and marks a milestone in the progress of artificial intelligence. What does it do, and why is it different?Ā For more information, read about it on the TDR website!

How to Make a Difference in Cannabis Policy with Rep. Cardenas

In today's episode of TDR's Trade To Black podcast, we're premiering a special fireside chat with Representative CĆ”rdenas from Washington, DC. Tune in for a clear, insightful discussion about what's really holding back the cannabis narrative, how we can influence decisions on cannabis, and the unmatched value of first-hand experience. Don't miss this deep dive with California's Rep. CĆ”rdenasā€”an essential conversation for anyone interested in cannabis policy. For more information, view the video on YouTube!

Yesterday Interviews on Capitol Hill were Fantastic!

The TDR Takeaway: Join us on TDR's Trade To Black podcast today as we take you on our journey throughout Washington, DC. This video features more than 7 Senators and Representatives who will discuss the current state of affairs with Cannabis reform in Washington, DC. We asked about their thoughts on the SAFE Banking Act and whether they anticipate the DEA recommending cannabis rescheduling to Schedule III. Donā€™t miss this vital updateā€”get the facts directly from Capitol Hill.Ā For more information, view the video on YouTube!