Cannabis Capital Markets Price Overview:

Yesterday was an overall Positive day for the TDR Comprehensive Cannabis Index. Leading the gains were companies within the TDR Pharma Cannabis Index, while those in the TDR Retail Cannabis Index lagged behind.

The top and bottom performers in the TDR Comprehensive Cannabis Index are as follows: RIV Capital experienced an 11.80% increase, emerging as the top gainer, whereas CordovaCann faced the most substantial decline, dropping by -29.64% on the day. Neither company released news that day, with their stock movements attributed to trading volumes not related to specific news.

Cannabis Capital Markets News

High Tide (Nasdaq: HITI, TSXV: HITI) has been named a top 10 company in the diversified industries sector by the TSX Venture 50 for 2024, its second recognition in three years.

Tilray Brands (Nasdaq: TLRY, TSX: TLRY) launched Peach Cranberry and Wildberry Hibiscus cannabis-infused cold brew teas in Canada through its Solei brand, offering 355ml non-carbonated beverages.

Ascend Wellness Holdings (CSE: AAWH.U, OTCQX: AAWH) is set to acquire its second cultivation license in Massachusetts, expanding its canopy to 70,000 sq. ft., pending regulatory approval expected by mid-2024.

Canopy Growth (TSX: WEED, Nasdaq: CGC) launched five new pre-roll products under its 7ACRES and Hiway brands, including options with unique filters for smooth smoking and water hash infused for high THC content.

The Cannabist Company (NEO: CBST, OTCQX: CBSTF) introduced Hedy dual-action gummies in Massachusetts, offering a fast-acting and sustained high with two flavor layers.

Pure Sunfarms, under Village Farms International (Nasdaq: VFF), introduced new packaging and a website to showcase its cannabis quality, featuring a pink pouch for its best-selling Pink Kush strain.

AFC Gamma (NASDAQ:AFCG) plans to separate its commercial real estate lending into Sunrise Realty Trust, aiming for a mid-2024 completion to focus exclusively on cannabis industry lending.

Cannabis News, Policy and Studies

Veteran groups are advocating for the reclassification of cannabis to expand treatment options, a move that could significantly alter veteran care pending a DEA decision. Read our full story on the TDR Website!

Pure Jamaican and Seven-10 Pharmaceuticals export THC pharmaceuticals from Jamaica to the U.S. for DEA testing, enhancing Jamaica's role in the legal cannabis sector.

The DEA's historical refusal to reclassify cannabis was influenced by a lack of recognition of its medical value, not by international treaty constraints, as clarified by Tony Lange at Cannabis Business Times. A long but very interesting timeline and history.

Lol, Meanwhile in Canada……

In 2023, the Town of Pelham, Canada saw an increase in bylaw complaints by over 30%, primarily due to cannabis odour, according to a recent town counsel report.

Cannabis Policy Highlights from our Friends at Marijuana Moment:

1. A Virginia House committee passed a bill to legalize retail marijuana by May 2025, focusing on safety, equity, and a 9% tax, despite Governor Youngkin's disinterest in the legislation.

2. New Jersey's cannabis sales surpassed $2 billion since 2018, and officials suggest exploring home grown options for medical patients.

3. New York has barely collected any of the $25 million fines from unlicensed cannabis stores, underscoring enforcement difficulties.

4. South Dakota Senate passed a bill mandating extra medical approval for medical cannabis use by parolees and probationers for healthcare and safety balance.

5. The New Hampshire House approved a marijuana legalization bill, now facing Senate hurdles and requiring Governor Sununu's consent, after previous attempts failed.

6. An Ohio Democratic senator criticizes GOP House leadership for delaying marijuana sales legislation, despite voter approval, risking an illegal market and bipartisan frustration.

7. A Utah bill seeks to penalize agencies discriminating against medical marijuana patients by withholding state funds, ensuring compliance with state laws.

8. Job Corps updates marijuana testing policy, allowing students with reduced THC levels to avoid penalties for past use, focusing on support over exclusion.

Cryptocurrency

Seeing a non crypto public company list crypto in its current assets will be a first for me as an analyst……..

Reddit disclosed in its IPO filing with the SEC that it has invested in Bitcoin and Ether, using them as payment for virtual goods, and aims to go public on the NYSE under ticker "RDDT."

The European Central Bank has a blog post about Bitcoin on its website as well……

It is kinda boring, here is a summary: The approval of a Bitcoin ETF by the SEC, despite Bitcoin's failure as a global digital currency and investment, highlights the ongoing challenges and societal risks of speculative bubbles in the crypto market.

Nvidia's earnings boost and OpenAI's Sora launch have significantly increased AI crypto market cap to $17.5 billion and underscored AI technologies' profound impact on the cryptocurrency sectors. Read our full story on the TDR Website!

AI

Google (Alphabet)(GOOGL) pauses its Gemini AI's image generation after it refused to show images of caucasian people, following social media criticism over historical inaccuracies.

Here is some better Google news…..

Reddit has entered into a $60 million agreement with Google (Alphabet) (GOOGL) to allow the use of its posts for AI training, alongside unveiling IPO plans with a reported Q4 net income of $18.5 million and intentions to list on the NYSE under ticker symbol RDDT.

Tyler Perry has halted his $800M studio expansion, citing job loss concerns due to the rapid advancement of AI technology like OpenAI's Sora.

Big $$ Volume Big Caps

Nvidia (NVDA) strong earnings and the growing influence of AI technology propelled the S&P 500 and Dow to new highs, led the tech sector's surge, while Rivian and Lucid's disappointing EV forecasts tempered expectations. Read our full article on the TDR Website!

Jamie Dimon, CEO of JPMorgan Chase (JPM), and his spouse sold JPMorgan shares worth $150.3 million through a prearranged Rule 10b5-1(c) plan for diversification and tax planning.

Apple (AAPL) accuses Spotify (SPOT) of wanting free access to its tools amid an EU investigation potentially fining Apple €500 million, following Spotify's complaint about Apple's 30% fee and rules favoring Apple Music.

Don Murphy Sets Record Straight on Current Administration - Join TDR Trade to Black Today at 11 am EST

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.

Ispire Technology Reports 30% Increase in Latest Earnings I Trade To Black

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.

Wednesday Trade To Black

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:

1. Aurora Cannabis Completed 1 for 10 Reverse Stock Split

2. Virginia House and The Great Compromise

3. Maryland Senate Passes Bill to Protect Gun Rights for MMJ Users

Wiz Khalifa just didn’t care!