Cannabis Earnings, Consolidation & The Healthcare Shift
In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell tackle a big question a lot of investors are starting to ask right now: Has the cannabis sector finally started to stabilize? It’s a packed episode with two segments. In segment one, Scott Grossman, Founder and CEO of Vindicator Capital, joins the show to break down cannabis earnings season, what companies stood out, and whether the recent improvement in sentiment actually has legs. Then in segment two, we launch a brand-new weekly feature: Vantage Standard. This series focuses on what could become the next stage of the cannabinoid industry.
Scott Grossman, founder and CEO of Vindicator Capital, offers a Wall Street perspective on the cannabis industry’s latest earnings season. Grossman frames the current moment as “Cannabis 3.0,” a phase defined not by licensing or survival, but by company-specific architecture — with operators like GTI, Trulieve, and Curaleaf each building distinct strategic lanes around recreational dominance, medical expansion, and international reach, respectively.
Be sure to tune in to the interview, as Grossman is candid about his concentrated approach on portfolio holdings. After, the conversation turns to when — not if — the sector will see a meaningful rerate, with Grossman noting that 95 percent of inflows currently move through ETFs and that genuine institutional participation remains blocked by custodial and compliance barriers.
The second segment introduces Vantage Standard, a new weekly feature. This series focuses on what could become the next stage of the cannabinoid industry — healthcare systems, pharmaceutical-grade manufacturing, Medicare models, physician oversight, and how cannabinoids may eventually fit into regulated healthcare infrastructure in the U.S.
CEO Rusty Kuchta, a 30-year pharmacist, and Chief Medical Officer Dr. Paul Shields walks us through the CMS CBD pilot program operating within ACO REACH organizations. Together, they help break down how the whole CBD pilot could evolve from an early-stage framework into a full-scale healthcare model, while giving viewers a step-by-step look at how this entire process will develop over time.
