In this Friday episode of the Trade To Black podcast, hosts Shadd Dales and Anthony Varrell delivered a jam-packed session. Paolo De Luca, Chief Strategy Officer at Organigram (NASDAQ: OGI), joins the show to break down some of the biggest questions surrounding the landscape, should the Trump administration announce an intention to reform. Cannabis attorney Shane Pennington joins to talk about a major US policy development with the HALT Fentanyl Act. And Dan from The Chart Guys also shares the biggest movers of the week.
Shane Pennington, legal expert and guest commentator, clarified the scope of the newly signed HALT Fentanyl Act. Contrary to some media reports, the Act does not place medically approved fentanyl in Schedule I. Instead, it classifies fentanyl-related analogs—illicit variants not already scheduled—as Schedule I substances. The act also significantly expands pathways for researchers to study Schedule I drugs, potentially accelerating psychedelic research through streamlined government approvals and partial public-private funding.
Pennington emphasized the bill’s immediate effectiveness and the need for swift stakeholder action before DEA rulemaking might narrow its scope. Monday, July 21, will be a critical date: the Senate is expected to vote on Terrence Cole’s confirmation as DEA Administrator.
Paulo De Luca, CSO of Organigram, highlighted Canada’s emerging dominance in cannabis exports, with over 80% of Germany’s cannabis coming from Canadian LPs. Germany’s April 2024 legislative changes triggered rapid market growth, outpacing even Australia’s medical market.
For Canada, Organigram is approaching growth in a challenging market. He discusses the outlook for excise tax reform in Canada, and whether it could unlock meaningful capital or simply extend the current struggles for operators. Paolo also explains why Canadian cannabis stocks continue to trade at a discount compared to US peers.
Organigram’s “Collective Project” brand is making inroads into the US with hemp-derived THC beverages, now shipping to over 25 states. De Luca projects the category could grow from $1 billion today to $4 billion within three years.
Dan from The Chart Guys analyzed recent trends in the psychedelic and cannabis equities markets. ATAI Life Sciences and MindMed are showing bullish momentum and technical breakouts, while US cannabis stocks remain range-bound, waiting on rescheduling or federal reform. He noted that psychedelic stocks remain under the radar for now, presenting long-term upside as awareness and policy support grow.
