TLDR – TDR News highlights – February 9th to 12th

Get a quick update on today’s essential news! We’ve condensed the most important information about Cannabis, Psychedelics, Crypto, and AI into a brief format, saving you time and keeping you informed as you start your day. 

Education:

Our latest analysis on the TDR Website researches the significant research coverage gap affecting small and micro-cap companies, which are often overlooked despite their substantial revenue generation. This lack of coverage obscures valuable investment opportunities but also perpetuates the misconception that these firms are mostly speculative. We explore how data science emerges as a crucial tool in closing this gap, enabling the efficient processing of large datasets to enhance research coverage across all market caps.

Cannabis:

Cresco Labs Inc. (CSE:CL, OTC:CRLBF) announced transfers of Super Voting Shares among directors to ensure a balanced distribution. Thomas J. Manning and Robert M. Sampson acquired shares from Charles Bachtell and Dominic Sergi for US$1.00. After these transfers, Bachtell holds 26.59%, Manning 26.75%, and Sampson 26.66% of the Super Voting Shares. Sergi, no longer on the board, transferred all his shares. The company indicates these moves are in line with its governance framework and could lead to future adjustments based on market conditions.

Cannabis Policy:

Even the Navy is accepting Cannabis! The US Navy has updated its THC policy, now offering waivers to recruits who test positive, reflecting societal shifts in marijuana views. This is part of efforts to tackle recruitment challenges and improve retention, including new physical training programs and fitness test alternatives. These changes aim to enhance recruitment effectiveness and make the Navy a viable option for potential recruits, demonstrating an adaptive approach to societal and operational challenges. Read all about it on the TDR website:

Rep. Juanita Brent (D) of Ohio warned that legislators could lose reelection if they undermine the voter-approved marijuana legalization by redirecting tax revenue to law enforcement. During a panel, Brent stressed the importance of respecting the 57% voter approval for legalization and criticized proposals for using cannabis tax dollars for police training. She advocated for funding community access and social equity instead. This comes as the state debates the implementation of legalization, with the governor and GOP leadership seeking changes, including speeding up legal sales and adjusting tax revenue allocation, which faces opposition from those wanting to uphold the voters’ decision and focus on social equity.

Psychedelic Policy:

The FDA has accepted Lykos Therapeutics’ application for MDMA-assisted therapy for PTSD, signaling a significant step in recognizing psychedelic therapies. Backed by MAPS’ research, this move could lead to the approval of MDMA therapy by August 2024. However, the therapy’s safety and efficacy are still under review, emphasizing a cautious approach to its implementation in mental health care. Read the full article on the TDR website.

The above news is great, but will anyone be able to afford it?…….

Australia’s first psychedelic therapy clinic has opened, offering MDMA and psilocybin treatments for PTSD and depression at $24,000 for nine months. This follows Australia legalizing these treatments, a global first. However, experts highlight substantial unknowns about the treatments’ effectiveness and safety, emphasizing the need for further research. Concerns include the cost, accessibility, and suitability of patients for such therapy. 

Crypto:

According to Glassnode, Bitcoin has reached a “high risk” level based on its MVRV ratio, which compares market value to a determined “fair value.” This rise into high-risk territory is often seen before a bull market starts. Bitcoin’s price has risen from $42,317 to $48,582, a change linked to reduced outflows from the Grayscale Bitcoin Trust and increased inflows into new U.S. Spot Bitcoin ETFs, which saw record inflows. This trend suggests a favorable change in the investment landscape for Bitcoin.

Lots of Bulls coming out:

CryptoQuant CEO Ki Young Ju has set a new price target for Bitcoin, predicting it could reach $112,000 in 2024, influenced by institutional inflows into the market, particularly through U.S. spot Bitcoin exchange-traded funds (ETFs). These ETFs are expected to significantly boost Bitcoin’s realized cap, the total value of all Bitcoins at the prices they were last traded. Despite outflows from the Grayscale Bitcoin Trust, which have slowed since converting to a spot ETF, the overall market impact could be positive, with Ki suggesting a “worst case” price of $55,000-$59,000. Meanwhile, Adam Back, CEO of Blockstream, hints that a rise to new all-time highs could happen sooner than anticipated, potentially even before the upcoming Bitcoin halving in April.

AI:

AI has so much potential to improve our lives……

In Victoria, Canada a clinical trial using artificial intelligence aims to reduce prostate cancer radiation sessions from five to two. Led by Drs. Abe Alexander and Winkle Kwan, the ADAPT-25 trial seeks to improve treatment precision and decrease side effects. Earlier phases indicated successful outcomes with five sessions. The new trial will employ an AI algorithm to adjust radiation targeting in real-time. If successful, this method could reduce patient burden and treatment wait times. The trial is donor-funded and contributes to the provincial goal of timely cancer treatment.

another example again from Canada….

The Montreal Canada Metro (subway) authority is testing an AI system to identify and prevent suicide attempts by monitoring CCTV for signs of distress. The system alerts staff for immediate intervention. Currently, the AI recognizes one in four potential incidents, offering a cost-effective solution compared to installing platform barriers. The AI pilot project is expected to fully deploy in two years.

and from prison…….

Imran Khan, imprisoned former Prime Minister of Pakistan, used AI to replicate his voice for campaign speeches, circumventing military-imposed election restrictions. An AI-generated message recently claimed victory for his party, which has sparked discussions on AI’s dual role in political campaigning: its ability to sidestep censorship and its potential to erode trust in authentic communication. This reflects a wider trend of political AI use worldwide, raising questions about the balance between technological innovation and ethical implications in politics. Want to keep up to date with all of TDR’s research, subscribe to our daily Baked In newsletter.   Missed yesterday’s TLDR TDR update, check it out here.