TLDR – TDR News – February 26th to 27th

Get a quick update on today’s essential news! We’ve condensed the most important information about Cannabis, Psychedelics, Crypto, AI and Largest Dollar Volume Mega Caps into a brief format, saving you time and keeping you informed as you start your day. 

Cannabis Capital Markets Price Overview:

Monday was an overall negative day for the TDR Comprehensive Cannabis Index with an average loss of 1.99% Leading the gains were companies within the TDR Retail Cannabis Index, while those in the TDR Financial Cannabis Index lagged behind.

The top and bottom performers in the TDR Comprehensive Cannabis Index are as follows: Statehouse experienced an 18.25% increase, emerging as the top gainer, whereas Leef faced the most substantial decline, dropping by 17.29% on the day. Neither company released news that day, with their stock movements attributed to trading volumes not related to specific news.

Cannabis Capital Market News:

Innovative Industrial Properties reported a 12% revenue increase and a 5% net income increase in 2023, expanded its portfolio, and continued raising dividends. Read the full story on the TDR Website!

Innocan Pharma(CSE:INNO) announced study results showing its LPT-CBD maintains prolonged CBD release in rabbits, supporting its potential for long-term therapeutic effects with a single injection.

Avant Brands (TSX:AVNT, OTC:AVTBF) has restructured its loan agreements to extend terms and reduce payments, reflecting partner support and enhancing its financial stability.

TDR Cannabis News, Policies and Studies:

Community Savings Credit Union in Canada has launched pre-approved business credit cards for cannabis-sector companies, addressing the financial industry’s longstanding reluctance to serve this market despite the legalization of cannabis five years ago.

The Canadian government will increase eight regulatory fees related to the cannabis industry starting April 1, in alignment with the country’s 4.4% inflation rate, impacting various license and permit applications, while also addressing unpaid regulatory fees from struggling operators.

Cannabis Policy Highlights from our Friends at Marijuana Moment:

1. A Democratic congresswoman urged the DEA to ignore arguments that rescheduling marijuana violates international treaties and requested the agency to disclose meetings with external partners regarding cannabis reclassification.
2. Marijuana retailers in the U.S. are offering customers the option to round up their purchases for donations to support federal cannabis legalization efforts, initiated by the U.S. Cannabis Council and trialed at Curaleaf stores.
3. A state-commissioned poll in California reveals that 62% of adults view marijuana legalization positively, surpassing the initial vote percentage, with a high emphasis on purchasing from legal retailers to combat illicit sales.
4. A federally funded study found declining rates of cannabis use disorder treatment in states with legal marijuana sales, suggesting changes in legal and referral frameworks.
5. The Virginia House of Delegates approved a bill to protect public sector employees from dismissal due to medical marijuana use, now awaiting the governor’s decision.
6. A Maryland House committee chair criticized counties for using zoning laws to block marijuana dispensaries, prompting legislation to standardize local restrictions with state law.

Crypto:

Bitcoin’s price exceeded $57,000 for the first time since November 2021, coinciding with a surge in spot ETF trading volumes and a broader market rally.

According to a Bybit report, Ether has become the largest crypto asset held by institutions, surpassing Bitcoin, influenced by optimism surrounding the upcoming Dencun upgrade.

AI:

The European Union’s competition watchdog will examine Microsoft’s €15 million investment in Mistral AI and its partnership, amid broader regulatory scrutiny of Microsoft’s ties to OpenAI.

According to the BBC, AI’s integration in business operations is supporting the shift towards a four-day workweek, evidenced by trials and research showing that companies using AI extensively are more inclined to adopt shortened workweeks, enhancing employee satisfaction and efficiency, albeit with the need for cultural adaptation and skill development within organizations.

Big $ Volume Big Caps

Global Markets Await US Inflation Data with Bated Breath – Read the whole story on the TDR Website!

I just added this as I kinda think it is cheesy – The Indian state of Maharashtra is set to inspect global fast-food outlets, including McDonald’s, for the wrongful promotion of products claimed to contain real cheese, expanding its scrutiny beyond an initial crackdown on McDonald’s for using cheese alternatives.
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