TLDR – TDR News – February 27th to 28th
Get a quick update on today’s essential news! We’ve condensed the most important information about Cannabis, Psychedelics, Crypto, AI and Largest Dollar Volume Mega Caps into a brief format, saving you time and keeping you informed as you start your day.
Cannabis Capital Markets Price Overview:
It was a wild day, and I need to devise new charts to display such a broad range of returns. I’ll tackle this task today. Overall, cannabis stocks experienced a slight decline, but the pharmaceuticals saw a significant surge!
Skye for a second day had a wild up side and C21 was the laggard. In two days Skye has doubled in value.
Cannabis Capital Market News:
Planet 13 Holdings (CSE:PLTH)(OTCQX:PLNH) reported solid Q4 and full-year 2023 financials, maintained strong Nevada market share, and is expanding with new locations and acquisitions. Read the full story on the TDR Website!
TDR Cannabis News, Policies and Studies:
The Canadian House of Commons Finance Committee suggests changing the cannabis tax structure and advocates for First Nations involvement in the Cannabis Act review amid industry calls for reform and significant unpaid taxes.
Cannabis Policy Highlights from our Friends at Marijuana Moment:
- A double-blind study by Phylos and People Science found that THCV increases energy and motivation without causing the ‘munchies’ effect associated with delta-9 THC in marijuana.
- Virginia’s Senate committee amended the marijuana sales bill, diverging from a House compromise, affecting tax rates and equity programs, potentially leading to a bicameral conference to resolve differences.
- A Florida bill aiming to cap THC potency for adult-use cannabis is no longer advancing this session, following legislative time constraints and differing chamber versions.
- The Florida bill to limit THC potency in adult-use cannabis has stalled due to legislative time constraints and discrepancies between chamber versions.
- California’s new cannabis market data reveals a smaller and declining legal industry, challenged by high taxes and regulatory issues, contrary to previous larger market estimations.
Crypto:
Bitcoin (BTC) exceeded $59,000, pushing the market towards extreme greed, with traders eyeing a potential rise to $69,000 by March amidst high trading volumes and upcoming halving event.
Ether’s rally, outperforming Bitcoin, is attributed to low exchange holdings and increased usage in DeFi, not just potential ETF approval, with its deflationary supply and enhancements from Ethereum’s upgrades fueling demand.
AI:
Apple Inc. has ceased its self-driving car project, shifting focus to generative AI and mixed-reality headsets to seek new growth avenues and adapt to competitive tech markets.
Banco Santander SA’s online bank, Openbank, is introducing an AI-based service providing price targets for over 1,000 stocks, utilizing predictive models that analyze historical data and trends.
Big $ Volume Big Caps
US equity futures drop as investors reassess rate cut expectations and economic strength, amid a backdrop of global market shifts and cryptocurrency gains. Read the whole story on the TDR website!
Oil prices fell due to rising US stockpiles, overshadowing expectations of continued OPEC+ supply cuts and market uncertainties.
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