In this week’s Trade To Black Podcast, Shadd Dales, Benjamin A. Smith and Anthony Varrell banter about this week’s cannabis news—including the price action in AdvisorShares Pure US Cannabis ETF (NYSEARCA: MSOS). Cathy Wood was also a topic of discussion, with the ARK Genomic Revolution ETF purchases of atai Life Sciences (NASDAQ: ATAI) and her group’s expectations that Bitcoin will top $1 million by 2030.
Trade To Black Podcast Episode 24 CliffsNotes…
@3:08 Good price action in the sector to begin the week, although AdvisorShares Pure US Cannabis ETF (NYSEARCA: MSOS) faded late week on broad market weakness. The 50-day moving average did give way on MSOS to end Friday’s session.
@5:30 Panel agrees that the key for investors is broadening investment timelines and invest on the assumption that SAFE Banking or major federal regulation is not happening this year.
@7:36 Apple will no longer prohibit hosting cannabis apps on its App Store, subject to geo-fencing restrictions. Large corporations are helping the normalization of the industry.
@10:20 Cannabis in the Metaverse. How would that work?
@11:00 Stay away from any company that claims that it wants to be the “Amazon of cannabis”.
@12:06 Senate Bill 1074 in California was introduced and aims to end the flat rate cannabis cultivation tax in the state. We discuss.
@14:33 Will the California cannabis market live up to lofty expectations one day?
@16:15 Price action in psychedelics remained flat-to-down this week. A lack of big news meant the sector defaulted to movement in broader biotechnology stocks, which closed down nearly 4%. Cybin mentioned in Tony Robbins New York Times bestselling book, Life Force.
@19:52 atai Life Sciences and Cathy Wood talk. Do we see a trend of more institutions and Funds taking positions in the sector.
@22:58 Cathy Wood’s Ark invest pegged Bitcoin with a $1 million price target over the next ten years. We discuss whether such price targets should be respected.
@25:17 Warren Buffett (or associates) is backing Bitcoin by investing $1 billion in a crypto-friendly bank this week.
@27:30 The demographic of the people that keep deriding crypto are the same people who simply don’t understand the new paradigm that crypto represents.
@28:24 J.P. Morgan is now officially on the Metaverse.
@29:01 Melania Trump NFT
To view Trade To Black Podcast 23, click here.