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Trade To Black On Michigan, Ohio, And Psilocybin’s Appeal

By Shadd Dales On Oct 31, 2023

The trading day meltdown continues, but at least we have NFL picks to look forward to. This episode of the Trade To Black Podcast for Benzinga, we cover the latest news on cannabis and psychedelics. Today, we have the Michigan update, Ohio legalization, and the appeal of psilocybin to chat about.

Into the wire: there’s some really telling information available about the state of the cannabis industry in Michigan thanks to a data analysis done by Rehman Business Consulting. Anthony explains why investors should take note of this report. From a capital markets perspective, there’s some data points that could indicate that the health of the industry in Michigan is on the mend. 47% of the participants in the analysis were vertically integrated, seed to sale, and many plan to raise capital in the next 12 months. We go into further detail. Some of this was covered in our Top Developments posts over the weekend. Be sure to subscribe to our newsletter so that you never miss these posts.

AdvisorShares Pure Cannabis ETF appears to be testing some new low ranges after a big decline last week, almost completely reversing the HHS rally. Lead Financial writer Benjamin A. Smith shares his thoughts on where this may be going. Earnings will be coming out again soon, which could demonstrate growth narratives.

Switching to psychedelics, U.S. Court of Appeals for the Ninth Circuit ruled against the Drug Enforcement Administration in a psilocybin rescheduling lawsuit, saying the DEA failed to explain their reasoning to deny the petition. The court ordered the DEA to provide more information on why, and we’re interested to see what justification the DEA responds with.

Jumping over to politics, Ohio’s Governor Mike DeWine has been vocal in his opposition to a ballot initiative that would legalize adult-use of cannabis in his state. He claims that voters are confused about the measure and downplayed polls showing support.

Tune in to hear our thoughts on these latest cannabis movements in Michigan and Ohio, right here on The Dales Report!

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Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.