TLDR – TDR News – March 15th to 18th
Get a quick update on today’s TDR News! We’ve condensed the most important information about Cannabis, Psychedelics, Crypto and Miners, AI, Small Cap REITS and Large $$ Volume Mega Caps into a brief format, saving you time and keeping you informed as you start your day.
Recap of Friday
The TDR Comprehensive Cannabis Index increased by more than 6% on Friday, while the TDR Retail Cannabis Index rose by nearly 10%. All other indexes showed gains except for the TDR Global 50, which experienced a slight decrease.
What’s Driving the Market Today?
The futures are up and showing a little green, here is what is in focus globally for stocks:
- China’s industry, retail beat forecasts
- Oil prices hit highest since November
- Fed meeting anticipation affects yields
- BOJ may end negative rate policy
- Nvidia’s annual developer conference
Cannabis Capital Market News:
The High Flyers yesterday were led by CordovaCann which was up by just over 33%, and the Low Flyers were led by TILT, which was down over 12% on the day. Here are the charts of the High and Low Flyers:
Let’s examine the highlights from companies in the TDR Comprehensive Cannabis Index!
- We launched research on Auxly Cannabis and is available for free for our Newsletter Subscribers here:
- High Tide Inc. (NASDAQ: HITI, TSXV: HITI) reports record Q1 2024 financial results with $128.1M revenue, $10.4M Adjusted EBITDA, and positive free cash flow, marking strategic growth. Read all about it on the TDR Website!
- High Tide (Nasdaq: HITI, TSXV: HITI) to acquire Queen of Bud, enhancing its brand portfolio and global market reach.
- Verano Holdings Corp. (CBOE CA:VRNO, OTC:VRNOF) reports a 2023 revenue of $938 million with increased cash flow. Read all about in on the TDR Website!
- C21 (CSE: CXXI, OTC: CXXIF) to acquire a Reno cannabis dispensary and launch a C$4M private placement of convertible debentures.
- The Cannabist Company (Cboe CA: CBST, OTC: CBSTF) plans a US$25.75M offering of 9% senior secured convertible debentures due 2027.
Cannabis News
- Vice President Harris calls for quick action to reschedule marijuana, highlighting the need for fairness and recognizing its medicinal benefits. Read all about it on the TDR Website!
Cannabis Policy Highlights from our Friends at Marijuana Moment:
- Biden’s misunderstanding of his marijuana pardons and expungements could mislead recipients about disclosure requirements.
- Maine considers bills to expunge and seal pre-legalization marijuana conviction records, addressing past injustices.
- Alabama proposes rules to ensure medical cannabis access for patients in healthcare facilities, considering caregiver administration.
- Kentucky House approves bill restricting medical marijuana access for people with certain drug convictions, potentially deterring program participation.
Psychedelic News:
- Maryland Senate committee approves creation of a psychedelics task force to explore regulatory frameworks for substances like psilocybin.
Crypto and Crypto Miners:
- China’s central bank releases a guide for foreign visitors on using the digital yuan, allowing contactless payments without needing a local bank account.
- Bitfinex warns Bitcoin’s fourth halving may centralize mining power, increasing risks but potentially boosting Bitcoin’s price due to reduced coin generation.
- Two promoters of IcomTech, a crypto ponzi scheme, are convicted of wire fraud conspiracy and face up to 20 years in prison.
AI:
- Suno, a startup, is changing music creation with AI, generating realistic songs from text prompts.
- Reddit faces FTC inquiry over its plans to license user data for AI training, potentially earning $203 million.
Big $ Volume Big Caps Highlights:
- Apple is negotiating with Google to integrate the Gemini AI engine into the iPhone, enhancing its software with AI features.
- Uber settles a $178 million lawsuit with Australian taxi drivers over market disruption claims.
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