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Trade To Black Podcast 21: MSOS and Psychedelics Search For Bottom

In this week’s Trade To Black Podcast, Shadd Dales, Benjamin A. Smith and Anthony Varrell discuss a range of issues, ranging from the AdvisorShares Pure US Cannabis ETF (NYSEARCA: MSOS) bounce from all-time lows, MindMed’s news-driven rally, and resilience in the DeFi market.

Trade To Black Podcast Episode 21 CliffsNotes…

Cannabis

@1:30 MSOS made an all-time low this week, but “capitulation” did not happen in a classic sense based on volume. Benjamin A. Smith gives us his interpretation on the price action.

@2:57 Are we at the stage now where rallies will continue to be sold? Anthony explains why he is mostly in cash right now.

@3:45 Investors are is wait-and-see mode right now as many regulatory false starts throughout the years have made buyers cynical. Hopefully, the newest SAFE Banking amendment brought forth by Rep. Ed Perlmutter finally breaks the ice.

@4:50 Cantor Fitzgerald Managing Partner and lead cannabis analyst Pablo Zuanic called U.S. cannabis a “dead-money” trade in 2022. The panel discusses whether they believe this to be true.

@6:00 Amazon threw their support behind a Bill sponsored by Rep. Nancy Mace to legalize and tax cannabis in the U.S. We discuss the importance of the move in light of Amazon’s tremendous lobbying power on Capitol Hill.

@7:20 Jefferies came out this week and slashed its price target on Tilray US$22 to $17 as Tier-1 Canadian LPs struggle to obtain profitability in Canada. Hexo Corp. also discussed.

Psychedelics

@10:35 atai Life Sciences this week launched Invyxis, a new, wholly owned platform company committed to developing new chemical entities (NCEs) and to further pioneering next-generation mental health treatments. We discuss.

@11:25 The FDA cleared MindMed’s Investigational New Drug application, allowing its Phase 2b dose-optimization trial of MM-120 for the treatment of generalized anxiety disorder to proceed. The stock priced ramped on the news, then fell right back to where it started. Classic bear market price action.

@13:00 Where do you see the small caps going over the next 6-12 months. Some macro views are elucidated.

@15:22 The top leaders in the broad indexes have been holding up the market, while many midcaps and small caps have been lagging.

Crypto/NFT

@17:04 Why has DeFi (TVL) held up better than crypto in terms of asset prices?

@19:30 Do you see value in the crypto (majors) at these prices in a post-selloff environment?

@20:20 Lots of venture capital money is pouring into the crypto space right now. Joe Biden will regulate crypto via Executive Order.

@24:00 The crypto market is particularly correlated to the fate of broad market equity indexes right now.

@27:45 Are we due for an outsized decline in equity prices—the kind of ravaging bear markets that seem to come around once every decade?

@30:05 TDR announces the launch of Guaranteed Money, a sports industry news and betting show hosted by national radio personality, Ryan Doyle. Anthony will be a regular guest on the show.

To view our previous Trade To Black Podcast 20, click here.

The Dales Report Inc. disclosure policy applies to this post    
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