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- 🐈 A Wild Roaring Kitty Appears 🐈
🐈 A Wild Roaring Kitty Appears 🐈
William McNarland & Anthony Varrell
May 14, 2024
GM Everyone,
Yesterday marked the return of Mr. Roaring Kitty, and he certainly came back like a bat out of hell. All it took was one meme posted in the morning, and the internet went nuts. It didn't hurt that GME experienced around a 100% gain shortly after the market opened. The real question now is whether he will truly return and reinvigorate WSB, turning the tables on trades that are underwater due to artificial forces led by institutions. Cough cough. The cannabis industry...
Today’s letter can be read in 7 minutes and 42 seconds.
What's Driving the Market Today?
Stock market futures are flat this morning; these are the top highlights moving the markets:
U.S. markets are in a holding pattern, awaiting key inflation data releases this week, with U.S. Treasury yields slightly lower.
Meme stocks are buzzing again; GameStop shares surged nearly 75% after social media influencer Keith Gill returned to X.
The dollar strengthens against the yen and sterling amid global central bank speculations and UK wage inflation data.
China faces new U.S. tariffs on various imports, affecting Chinese stocks and contributing to election-year tensions.
Tech updates: OpenAI announces GPT-4o, Foxconn reports a 72% rise in Q1 profits, while missing forecasts.
The Cannabist Company’s Strategic Realignments and Market Focus
Facts that matter:
The Cannabist Company shows strong first-quarter gains.
Strategic exits from Utah and Missouri focus market efforts.
Despite NY hurdles, Cannabist sees growth opportunities with Ohio market entry.
Quick Hit: The Cannabist Company Holdings (Cboe CA:CBST, OTCQX:CBSTF) is making significant progress in the cannabis industry despite various challenges. With a clear focus on enhancing profitability and operational efficiency, the company is charting a new path under the leadership of CEO David Hart and President Jesse Channon.
Curaleaf Under Matt Darin: A Strategic Overview
Facts that matter:
Matt Darin explains Curaleaf’s strategy positioning from a multi-state operator to an international operator.
Matt Darin explains Curaleaf strategy for revenue growth.
Curaleaf’s expansion in Germany exceeds the expectations of the executive team.
Quick Hit: Curaleaf Holdings, Inc. (TSX:CURA, OTCQX:CURLF) is a multi-state operating shifting strategy to become an international cannabis operator. Matt Darin the CEO highlighted the importance of this global expansion, stating, “We are truly the first multi-country operator who is building a really unique supply chain. We’re taking lessons learned in the U.S. over the last decade to build a vertical supply chain and deploy it globally across different countries. Nobody else is doing it like we are.” This comment underscores Curaleaf’s ambition in the cannabis industry, aiming to leverage its extensive U.S. experience to establish a significant international presence.
Coverage Initiated: New Lake Capital Partners
NewLake Capital stands out in the small-cap stock market for its strong financials and its unique position in the cannabis sector. The company’s business model operates on a simple yet efficient premise where it serves as a landlord to cannabis operations, offering real estate solutions that are both strategic and lucrative.They take in the money from the cannabis companies and manage it. The company takes a narrow, thin charge for doing that.
AbbVie and Gilgamesh Commit to Innovative Psychiatric Solutions
Facts that matter:
Gilgamesh and AbbVie join forces to tackle innovative mental health therapies.
Gilgamesh could earn up to $1.95 billion with milestones and royalties.
AbbVie and Gilgamesh set to redefine mental health treatment standards.
Quick Hit: As part of the agreement, both AbbVie and Gilgamesh will engage in the research and development of a range of innovative therapeutics aimed at treating psychiatric disorders. Should AbbVie decide to proceed, it will take the lead on both development and commercialization efforts. Gilgamesh stands to receive an initial payment of $65 million from AbbVie, with the potential to earn up to $1.95 billion in combined option fees and milestone payments. Additionally, Gilgamesh is poised to earn royalties ranging from mid-single to low-double digits based on net sales.
MSOS Monday: Executive Earning Updates From Curaleaf + The Cannabist
Facts that matter:Join us live for MSOS Monday Trade to Black today at 4 pm EST for an update on Curaleaf (TSX:CURA, OTCQX:CURLF) stock earnings with CEO Matt Darin. Afterward, Jesse Channon, the President of The Cannabist Company (Cboe CA:CBST, OTCQX:CBSTF) will share an earnings update and outlook for the cannabis industry. These Cannabis Stocks are significant companies in the Advisor Shares ETF MSOS. During the show, we will also have a special guest Dan Ahren, the Managing Director from Advisors Shares, to discuss the reasons for the movement behind the MSOS ETF this week.