Jason Wild Gives His Outlook On 2024
Welcome back to the last livestreamed Trade To Black Podcast of 2023. This one is powered by the Benzinga network. Host Shadd Dales, millennial entrepreneur Anthony Varrell and financial writer Benjamin A. Smith are going to be diving into some of this week’s developments and also joined by a very special guest, Jason Wild.
Kicking off Into The Wire, we look at Joe Biden’s proclamation that pardoned thousands of people with marijuana-related offenses, mostly misdemeanors. Ben says that while this may not exactly be a massive or unusual piece of news, this is a strong reminder of the normalization going on within the industry. Anthony adds that while this is great, he hopes that they don’t forget rescheduling.
Jason Wild is the Executive Chairman of TerrAscend, a cannabis company who has done very well this past year. He joins us at approximately the 7:00 minute mark. With everything going on politically, Jason gets frank with his explanations about why stock prices are still what they are.
Further into recent news, in a significant turn of events, California Attorney General Rob Bonta has come out in strong opposition to a Democrat-backed proposal wanting to establish legal agreements between states for the export of herb. The impact of this decision reverberates through California’s herbal industry, causing a major stumbling block in the aspirations of local businesses looking to expand their operations.
As we navigate the landscape of earnings season, the spotlight turns to Canadian company Organigram and its recently unveiled 2023 results. We take a look at their financial performance, including noteworthy double-digit gains in revenue, a substantial 20% increase in gross margin from the previous fiscal year, and a closer look at the financial highlights of the fourth quarter, where despite significant losses, a strategic investment from BAT helped maintain financial stability.
Heading to Massachusetts, we witness a groundbreaking shift as Theory Wellness embarks on becoming the largest employee-owned herb company. We explore the intricacies of their recent transition into an employee stock ownership plan, the process based on tenure, and the financial benefits that not only strengthen the company but also reward its employees. We look at how this move positions Theory Wellness to potentially become the first legal herb company liberated from the 280E tax provision at both state and federal levels.
Don’t miss out on Jason Wild’s outlook for 2024 and the latest cannabis news here on this live-streamed episode of Trade to Black!
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* In accordance with an executed agreement between The Dales Report and TerrAscend, The Dales Report is engaged with the aforementioned on a 6-month contract for $7,500 per month, with the purpose of publicly disseminating information pertaining to TerrAscend via The Dales Report’s media assets, encompassing its website, diverse social media platforms, and YouTube channel. Compensation for The Dales Report services involves the receipt of a predefined monetary consideration, which may, on certain occasions, encompass ordinary shares in instances where monetary compensation was not obtained. In such instances where share compensation was received, The Dales Report hereby asserts the right to engage in the acquisition or disposition of such shares subsequent to the conclusion of the aforementioned contractual period, in compliance with provincial, state, and federal securities regulations. Please refer to the “Disclosures” section below, which is to be interpreted in conjunction with this disclaimer.
