TLDR – TDR News – March 8th to March 11th
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.
Today, we are celebrating two holidays at TDR: National Napping Day and Commonwealth Day. Commonwealth Day honors the 54 member countries in the Commonwealth. We extend our best wishes to all our nappers and friends from the Commonwealth today!
Recap of Friday
We now have nine TDR Indexes covering stocks and investments of interest to our readers. Last week, we launched the TDR Crypto Miners Index. These indexes help us at TDR track the market and, importantly, save you, our reader, time, as this detailed information is not available elsewhere. We designed them to be unique and straightforward.
On Friday, the TDR Crypto Miners led with an increase of 4.7%, followed by the TDR Integrated Cannabis Index, which rose by 1.5%. The TDR Crypto Index fell by 2.5% after the market closed, and the TDR Pharma Cannabis Index also declined, dropping by 2.4%. It’s important to note that the TDR Crypto Index continues to trade after the market closes, which led to its drop while the TDR Crypto Miners had ceased trading.
What’s Driving the Market Today?
The futures are showing a slightly positive open currently, here is what is in focus:
- Feb jobs data anticipated
- Powell hints at rate cuts
- ECB forecasts earlier cuts
- S&P 500 at new high
- Gold prices continue rise
Cannabis Capital Market News:
The High Flyers yesterday were led by Leef which was up by just over 21%, and the Low Flyers were led by StateHouse, which was down over 31% 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!
This is unusual, as there was no news on Friday for companies in our index. However, we expect news this week, specifically regarding which companies are reporting earnings.
Cannabis News
- Biden’s plan to relax marijuana restrictions faces DEA opposition amid broader federal debate over cannabis policy. However, some DEA officials have raised concerns over scheduling, citing modern cannabis strains, which can be far more potent than those commonly available in the past, people familiar shared with the WSJ. Read all about it on the TDR Website!
- Germany’s cannabis legislation could be referred to mediation, impacting decriminalization and implementation timelines. Read all about it on the TDR Website.
Cannabis Policy Highlights from our Friends at Marijuana Moment:
- Gov. DeSantis criticizes Florida’s marijuana legalization measure, citing concerns over odors and lack of regulatory control.
- President Biden’s tweet about marijuana reform was his most popular post from the State of the Union, highlighting widespread support for the issue.
- Gov. Youngkin vetoes a Virginia bill aimed at preventing marijuana use as sole evidence of child neglect, citing risks to children.
- President Biden mistakenly claimed his marijuana pardons expunged records, although they only provided formal forgiveness without clearing criminal records.
- A new study suggests that free cannabis distribution through harm reduction programs could reduce drug overdose deaths and improve users’ quality of life.
- Massachusetts officials are considering regulating THC-infused hemp products sold outside dispensaries to ensure safety and compliance.
- New Hampshire lawmakers voted to expand the medical cannabis program, adding new conditions and increasing possession limits, amidst debates on recreational legalization.
- Oregon Governor Tina Kotek plans to sign a bill re-criminalizing possession of small amounts of hard drugs, reversing part of the voter-approved Measure 110 from 2020.
- Researchers have developed new forensic testing methods to enhance the detection of THC and its metabolites in blood, funded by a federal grant from the National Institute of Justice.
Crypto and Crypto Miners:
- UK’s FCA green lights crypto ETNs, propelling Bitcoin over $71K amidst institutional embrace. Read all about it on the TDR Website!
- According to an FBI report, Cryptocurrency-related investment fraud losses surged 53% in 2023, reaching $3.94 billion, with scams constituting 86% of total investment fraud losses.
- Tom Lee predicts Bitcoin could reach $150,000 in 12-18 months, driven by demand for spot ETFs and the upcoming halving event.
- Bill Ackman hints at potential interest in Bitcoin, speculating on a cycle where rising BTC prices could impact energy costs and the economy.
AI:
- AI companies are attracting academics with high salaries and advanced resources, creating a talent and resource gap in academic AI research.
- UNESCO warns AI tools by OpenAI and Meta show bias, associating women with domestic roles and men with high-status jobs, urging for more inclusive practices.
Big $ Volume Big Caps Highlights:
- Reddit seeks to raise $748 million in its IPO, targeting a $6.5 billion valuation, with a public offer of 22 million shares.
- Walmart’s (WMT) quick success with generative AI search presents a challenge to Google, potentially reshaping online search and shopping habits.
- Google’s (GOOGL) new Bay View office faces Wi-Fi connectivity issues despite its innovative design, impacting employees working on AI projects.
- Nvidia (NVDA) faces a lawsuit from authors alleging unauthorized use of copyrighted works to train its NeMo AI platform.Nvidia faces a lawsuit from authors alleging unauthorized use of copyrighted works to train its NeMo AI platform.
- Apple (AAPL) enhances its MacBook Air lineup with the introduction of the M3 processor, offering improved performance and battery life.
Micro and Small Cap REITS:
- Oceanwide Plaza in L.A. becomes a graffiti canvas after construction halted in 2019, joining global ghost tower phenomena.
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