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- Weekend's Eve
Weekend's Eve
William McNarland
February 16, 2024
GM Everyone,
Houston, we have a pulse. In a nice turn of events yesterday we saw a green day across much of the cannabis sector as it looks like the $MJUS sh*tshow is over for now. We also saw whispers of Safe Banking (not again) start to surface which we are going to keep blinders on until there is a vote, or something actually passes. We can’t go through this again for the millionth time (thanks for the PTSD Chuckie).
While it’s great to poke fun at Chuck and the Safe/Safer/Safest crowd it is important to note that yesterday’s rumblings were around streamlining section 10 which gets the gun lobby on board. If they were to work this out and do so it would be a big win for the bill as it would enable both sides of the aisle to claim a W.
This mornings letters highlights:
$CBSTF strikes major vape brand partnership
Ukraine passes medical cannabis reform
Take a shot for how many times Gary Gensler said “disclsoure” on CNBC
Interview 2 with David Klein is live and we gave the people what they wanted
Cannabis Capital Markets
Cannabis with Beverage continues its marriage……
Widmer Brothers Brewing, part of Tilray Brands (NASDAQ: TLRY, TSX: TLRY), reintroduces White Gold Hazy Lager, a seasonal beer with a twist on Kellerbier, emphasizing responsible drinking. The brew, known for its wheat-induced haze and light body, underscores Widmer's brewing expertise.
The Cannabist Company (NEO: CBST, OTCQX: CBSTF) announced an expansion of its retail and wholesale partnership with Airo Brands, introducing Airo's vaporizing products to West Virginia through five Cannabist locations, with plans for further expansion pending regulatory approval.
Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) has appointed Margaret Brodie as CEO and Janis Risbin as CFO and Corporate Secretary. The company also granted 1,361,106 restricted share units (RSUs) with vesting tied to future performance targets.
Cannabis Policy
Ukraine has legalized medical cannabis to benefit over six million people, including cancer patients and PTSD sufferers, marking a significant policy change. The law mandates creating a regulatory framework within three months and relies on imports until domestic production meets required standards. Read the full article on the TDR Website.
Nevada has approved its first cannabis consumption lounge, "Smoke and Mirrors" in Las Vegas, which will offer marijuana products and THC-infused beverages to adults. This initiative represents a new phase in the state's cannabis industry, aligning with strict regulations.
After all that progress in the Ukraine and Nevada, check out North Carolina……..
A judge in North Carolina has banned individuals smelling of marijuana from entering Robeson County Superior Courts, mandating the sheriff to enforce this rule for safety and official business. This decision raises questions about the subjectivity of detecting cannabis odor and its legal implications.
Psychedelic Studies
The study "Trip-killers: a concerning practice associated with psychedelic drug use" by Gregory Yates and Emily Melon highlights the risks of using 'trip-killers' to manage adverse reactions from psychedelics, with limited information available on their safety.
Cryptocurrency
Bitcoin hits a new 2024 high!
Coinbase Global (COIN) achieved its first quarterly profit in two years, boosted by increased trading and bitcoin ETF approvals. However, it's currently engaged in a legal dispute with the SEC, which poses risks to future earnings.
SEC Chair Gary Gensler on a CNBC interview this week remains non-committal on Ethereum ETFs and maintains a cautious stance, echoing the approach to Bitcoin ETFs without providing a decision timeline. Despite regulatory uncertainties, Ethereum sees a significant increase in validators eager to stake ETH.
AI
Remember how MidJourney was hailed as epic last year? Now, it's deemed outdated in less than a year……
OpenAI's Sora marks a groundbreaking advancement in AI, enabling the creation of dynamic videos from text, which opens up new possibilities for innovation while actively addressing ethical considerations with robust safety measures. Read our full article on the TDR website!
Join us for another TDR Exclusive interview, with David Klein, the CEO of Canopy Growth Corporation (NASDAQ: CGC). We dive deep into the financial health and strategic direction of Canopy Growth, covering the latest earnings report, investor concerns, and future plans for growth in the ever-evolving cannabis industry. This is a must-watch for all investors interested in CGC stock. In addition, we released some more commentary on Canopy’s last earnings report on the website!
On Wednesday we had the pleasure of interviewing Emily Paxhia, co-founder and Managing Partner of Poseidon. In this episode, we focus on the recent buzz surrounding cannabis rescheduling and its far-reaching implications.
Thanks for reading today’s Baked In—see you soon!
Written by Bill McNarland and Anthony Varrell