TLDR – TDR News – February 23rd to 26th
Cannabis Capital Markets Price Overview:
Friday was an overall positive day for the TDR Comprehensive Cannabis Index. Leading the gains were companies within the TDR Retail Cannabis Index, while those in the TDR Financial Cannabis Index lagged behind.
The top and bottom performers in the TDR Comprehensive Cannabis Index are as follows: CordovaCann experienced an 43.94% increase, emerging as the top gainer, whereas StateHouse faced the most substantial decline, dropping by 16.92% on the day. Neither company released news that day, with their stock movements attributed to trading volumes not related to specific news.
Cannabis Capital Market News:
Cresco Labs Inc. (CSE:CL, OTC:CRLBF) announced the opening of a new Sunnyside dispensary in Gettysburg, Pennsylvania, expanding its retail presence to 15 locations in the state and 72 nationwide.
Medicine Man Technologies, operating as Schwazze (OTC: SHWZ, (NEO: SHWZ), appointed Forrest Hoffmaster, currently CFO, as interim CEO following Nirup Krishnamurthy’s resignation for personal reasons.
TDR Cannabis News, Policies and Studies:
Germany legalizes recreational cannabis with strict rules to address health concerns, limit access, and potentially impact the black market. Read all about it on the TDR Website!
Private cannabis retailers in British Columbia express concern over government-operated stores incurring losses, fearing unfair competition and lack of transparency in financial operations could disadvantage independent businesses.
Cannabis Policy Highlights from our Friends at Marijuana Moment:
- Rep. Shelley Kloba (D) remains committed to introducing new marijuana home grow legislation in Washington State after the failure of a recent bill that would have allowed personal cultivation, despite facing consistent setbacks in past sessions.
- Maryland lawmakers are considering legislation that would prevent employers from penalizing workers for off-duty marijuana use and discriminating against individuals with prior cannabis-related convictions.
- A Virginia Senate panel advanced a compromise bill to legalize retail marijuana sales, following its approval in a House panel, aiming to send the legislation to Governor Glenn Youngkin despite his reluctance.
- Pennsylvania’s Agriculture Secretary Russell Redding expressed enthusiasm about the prospect of his department regulating an adult-use marijuana market, emphasizing the state’s agricultural capabilities and viewing legalization as an economic opportunity.
Crypto:
Grayscale Research views the upcoming Dencun upgrade as a pivotal development for Ethereum, enhancing its modularity and reducing transaction costs, solidifying its position despite growing competition from other blockchain networks.
Newly released emails from bitcoin creator Satoshi Nakamoto caution against labeling bitcoin as an “investment” and suggest using the term “cryptocurrency” while expressing concerns over promoting its anonymity features.
AI:
Nvidia’s market value reached $2 trillion due to high demand for its AI-related products, positioning the chipmaker nearly equal to the entire Canadian economy’s GDP.
UK Home Secretary James Cleverly warns that AI-generated deepfakes could be used by foreign states like Russia and Iran to manipulate elections and disrupt democratic processes globally.
Big $ Volume Big Caps
Nvidia’s strong earnings have elevated stock markets, with investor focus now shifting to upcoming inflation data and potential Federal Reserve responses. Read all about it on the TDR Website!
Microsoft has signed a four-year partnership with Hong Kong insurer FWD Group to provide generative AI solutions through its Azure platform, emphasizing its commitment to integrating AI technology in Asia’s financial services sector.
Cathie Wood’s Ark Autonomous Technology and Robotics ETF sold shares of Taiwan Semiconductor Manufacturing Corp. and Nvidia Corp., adjusting its investment strategy amid a global surge in interest for artificial intelligence technologies.
Intel announced a new Edge Platform at MWC 2024, designed to simplify the development, deployment, and management of edge AI applications, enhancing enterprises’ ability to scale AI solutions with cloud-like simplicity.
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