Trade To Black: SNDL Q4 Earnings, Janet Yellen On SAFE Banking

In our Friday episode of the Trade To Black podcast, we look into technical analysis of cannabis stocks making significant moves this week. On the agenda today is the SNDL Q4 Earnings recap, Germany legalizing cannabis, and Janet Yellen and the FDA supporting changes to legislation. As it’s Friday, you’ll also see Dan “The Chart Man” from the @chartguys. Dan will also examine the top performers of the week, and of course, everyone’s favorite Friday segment: Mic Drop with GUAP.

Heading into the wire, we kick off with SNDL’s Full Year and Q4 2023 earnings. SNDL had a record revenue and gross profit year in 2023, also garnering strong contributions from their retail liquor segments. Their net revenue was $909m, a figure up 28% from 2022. Q4 revenues alone were $248.5m which is up 3% year over year. Full Year gross profit was $190.4m, up 36% from 2022, and Q4 also improved from $43.6m in 2022 to $57.3m in 2023. You can get the full summary of their report here. Find out what the guys have to say about SNDL’s performance.

For cannabis investors following Germany’s progress, on Friday morning the country approved partial legalization of cannabis. There were some concerns that the Bundesrat might cause delays, but it appears that the April 1st approval date is now back on track. Starting April 1, Germany’s laws will permit the storing of 50g of cannabis at home and the cultivation of three plants. Cannabis clubs will support the controlled growth and purchase of cannabis starting on July 1.

Janet Yellen, US Treasury Secretary, said on Thursday she’d welcome legislation that rectifies the issue of cannabis businesses holding large amounts of cash and addresses conflicts between federal and state laws on sale and use. Being illegal at the national level means that most banks refuse to serve cannabis businesses, preventing them from accessing financing and services that would enable them to reduce employee risk and deal in forms of payment other than cash.

Don’t forget to tune in and hear the thoughts of GUAP and Dan “The Chart Man” right here on Trade to Black!

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