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Trump, Gaetz, and Cannabis: A High-Stakes Political Move

By Shadd Dales On Nov 15, 2024

On this episode of Trade To Black for Friday, November 11, 2024, you’ll find a packed set. Anthony Coniglio, CEO of NewLake Capital (OTC: NLCP), will join us to discuss the company’s latest earnings. Cannabis lobbyist Don Murphy will share his insights on some of this week’s appointments in Donald Trump’s administration, including the selection of Matt Gaetz as Attorney General. We’ll delve into why Trump chose Gaetz and what this could mean for the cannabis industry. Finally, Dan from The Chart Guys will check in to explain why he’s currently investing in psychedelic stocks.

Kicking off the podcast, Anthony Coniglio delves into recent developments in cannabis policy, highlighting statements by Matt Gaetz, RFK, and Donald Trump advocating for cannabis reform. There’s still a strong need for banking reform, de-scheduling, and freeing the cannabis market to enable capital efficiency.

NewLake, a real estate investment trust (REIT), reported their results for Q3 2024 this week. Unlike many cannabis stocks in 2024, NewLake Capital has performed strongly year-to-date, with the stock up over 20%. Anthony Coniglio discusses some of the highlights of New Lake Capital’s performance in the current volatile cannabis market. The company achieved a 9.3% year-over-year increase in revenue, totaling $12.6 million for the quarter. We’ll learn whether this momentum can continue heading into 2025.

Dan from “The Chart Guys” analyzes psychedelic stocks, including MindMed (MNMD), Cybin (CYBN), and Compass Pathways (CNPS). Don’t miss his insights on the technical trends and challenges, and how to capitalize on the sector’s potential for growth.

Don Murphy delves further into Matt Gaetz’s nomination as Attorney General under Donald Trump. Is this a pivotal moment for cannabis reform? Don Murphy believes so, and not least of all because of Gaetz’s history with cannabis advocacy. Despite Gaetz’s controversial reputation, Murphy stresses that his reform-minded approach aligns with the administration’s broader agenda.

Afterwards, Guap joins in the conversation with hosts Shadd Dales and Anthony Varrell, and we’ll hash out the broader implications of the election for both cannabis and the psychedelic industries both before we head into the weekend.

Shadd Dales

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.