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.
Monday Market Review:
We now have eight TDR Indexes covering stocks and investments of interest to our readers. They assist us at TDR in tracking the market but, more importantly, save you, our reader, time, as this detailed information is not available elsewhere. We designed them to be unique and straightforward. So, here we go…
The leading sector was Crypto, which saw a return of 4.6% for the TDR Crypto Index. In contrast, the overall Cannabis market declined, as indicated by a -1.6% decrease in the TD Comprehensive Cannabis Index. Specifically, Cannabis retailers experienced the most significant drop, with the TDR Retail Cannabis Index decreasing by -1.9%. Below is our chart of the TDR Indexes, which remains in TDR Green colors, even on a down day.
What’s Driving the Market Today?
The futures are showing a negative open currently, here is what is in focus:
- Fed’s hawkish stance on rate cuts
- Tech stocks dip; AI optimism fades
- China’s economy measures underwhelm
- Super Tuesday primaries in focus
- Gold nears record; Bitcoin slips
Cannabis Capital Market News:
The High Flyers yesterday were led by Body and Mind, which was up by just over 20%, and the Low Flyers were led by StateHouse, which was down over 17% on the day. Here are the charts of the High and Low Flyers.
This week, the earnings season is heating up quickly. Here is a reminder of who is reporting this week.
Let’s examine the highlights from companies in the TDR Comprehensive Cannabis Index!
High Tide (Nasdaq: HITI, TSXV: HITI) opens its 164th Canna Cabana store in Mississauga, Ontario, Canada.
Skye Bioscience (OTCQB: SKYE) announces the appointment of Dr. Annalisa Jenkins to its Board of Directors, enhancing leadership in drug development.
Indiva (TSXV:NDVA) has completed the first tranche of its private placement, raising $906,000 by issuing 9,060,000 units.
MariMed (CSE: MRMD, OTC: MRMD) launches Ache Away Eddies PM, an all-natural, orange creme fruit chew for pain relief and better sleep.
Avant Brands (TSX:AVNT, OTC:AVTBF) welcomes Tyson Macdonald to its Board, enhancing the company’s strategic and global outlook.
Aurora (Nasdaq: ACB, TSX: ACB) launches medical cannabis pastilles in Australia, expanding patient care options.
Planet 13 (CSE: PLTH, OTC: PLNH) initiates a public offering of units for corporate expansion and working capital.
Marijuana legalization leads to a noticeable decline in beer sales, indicating changing consumer preferences. Read all about it on the TDR Website!
Cannabis Policy Highlights from our Friends at Marijuana Moment:
- NHTSA report doubts THC concentration as a reliable measure for driving impairment, highlighting research gaps.
- Custom Cones USA offers a $70,420 job to test cannabis and create content.
- Nevada opens its first legal marijuana lounge with a lawmaker’s symbolic joint at 4:20 pm.
- Delaware plans to amend marijuana law to speed up industry setup and consider dual licenses for dispensaries.
- NJ group sues town over cannabis sales approval, citing federal law conflict.
Crypto:
Over 97% of Bitcoin addresses profit from recent rally, per IntoTheBlock data.
Bitcoin’s rally, driven by ETF demand, nears its all-time high, unaffected by GBTC outflows.
AI:
Trump supporters use AI-generated images to falsely portray black voter support for the former president.
Anthropic’s Claude 3 AI models redefine industry standards with groundbreaking speed, power, and multimodal analysis capabilities. Read all about it on the TDR Website:
Big $ Volume Big Caps Highlights
Apple (NASDAQ:AAPL) reports a 24% drop in iPhone sales in China in early 2024, amidst strong competition from Huawei. While also introduces 13-inch and 15-inch MacBook Air models with M3 chip, starting at $1,099 and $1,299 respectively.
Walt Disney (NYSE:DIS) shares rise as Trian Fund Management releases a plan to improve governance and financial performance.
Jeff Bezos reclaims the title of world’s richest person over Elon Musk as Tesla (NASDAQ:TSLA) stock drops and Amazon (NASDAQ:AMZN) maintains strong sales growth.
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