Whiz Buckley On Eli Lilly’s Psychedelic Takeout
In the latest Trade To Black podcast, presented by Flowhub, hosts Shadd Dales and Anthony Varrell dig into fresh cannabis consolidation and the fallout from Eli Lilly’s psychedelic takeout with Matthew “Whiz” Buckley, founder of Top Gun Options and former fighter pilot.
In the headlines: Vireo Growth (CSE: VREO, OTCQX: VREOF) signed a definitive agreement to acquire cultivation, manufacturing and retail operations from the distressed Cannabist Company (Cboe CA: CBST, OTCQX: CBSTF) — formerly Columbia Care — for up to $35 million across Colorado, Illinois, Massachusetts, New Jersey and West Virginia. The deal hands Vireo up to 25 dispensaries, a cultivation asset and a production facility, pushing its national footprint to roughly 230 dispensaries across 15 states, second only to Trulieve.
Dales and Varrell broke down how this fits into a run of ten Vireo acquisitions this year alone, and debated whether the pace is smart consolidation or something riskier — ultimately giving CEO John Mazarakis, a Chicago Atlantic co-founder, the benefit of the doubt on capital discipline while flagging execution risk in competitive markets like Florida. They also weighed the Massachusetts ballot initiative to repeal adult use, arguing the real danger is low midterm turnout and an under-educated electorate.
On Florida hemp, they discussed the November 12 federal ban set to wipe out much of the state’s hemp-derived THC shelf, and why a beverage carve-out is complicated. Alabama’s public hearing this week on rescheduling marijuana at the state level in line with the federal move also came up.
Whiz Buckley called Eli Lilly’s (NYSE: LLY) deal to acquire Atai Beckley (NASDAQ: ATAI) a poor outcome for shareholders and questioned whether the premium was enough, arguing executives don’t always act in investors’ interest. He explained why.
This and more when you tune in.
