We’re back with another VOD of a live-streamed episode of Trade To Black. In today’s podcast, Shadd, Anthony and Benjamin are talking canna. These last couple weeks have been great ones for the cannabis industry, between the Benzinga conference and SAFER Banking passing a senate markup vote. Yesterday kicked off with Tilray earnings report being released, and then, of course, Washington got… interesting.
What’s the latest? We’ve got it here.
We’re full in on sideways trading and trying to hang on. The rally from September seems to be over, but there’s still optimism in the space. As always, the information provided in this video is for educational purposes only and should not be considered as financial or investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions.
The big piece of news is Kevin McCarthy being rather suddenly and unexpectedly ousted as the House Majority Speaker. This is a political first and caught us by surprise. As he was a known supporter of the cannabis banking legislation, other proponents and investors are a little bit worried. Why? Right now, the two favored replacement candidates aren’t strong supporters of SAFER. Jim Jordan, in fact, doesn’t appear to like any cannabis legislation.
Unfortunately, Kevin McCarthy’s replacement will be critical in determining where SAFER Banking lands on the Republican House agenda. This is assuming that it passes Senate now with everything in flux. If you’re exhausted hearing about the constantly changing status of SAFE Banking, yeah, we are too.
Still, politics aren’t the only activity going on in the canna space. As we jump back into the market actions, Tilray Brands reported $176.95m revenue for the quarter ended August 2023. This represents a YOY increase of 15.5%.
And there’s a lot more we have to talk about. Be sure to catch up on the stream VOD and the conversation, as there’s a lot going on.