Trade To Black 24: Cathy Wood Bullish on Atai Life Sciences and Crypto
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.