The Dales Report | Trade to Black

Dales Media Group
  • 5.0 (8)
  • Investing
  • Updated Semiweekly

We are a business news platform that provides the latest and best insight into the stories that make headlines worldwide. From cannabis to psychedelics, crypto and more, we give institutional and retail investors an inside edge in the competitive world of investing. And we profile companies that are making waves in their ever-growing industries. We are The Dales Report. The information provided in this podcast is for educational purposes only and should not be considered as financial or investment advice. Listeners are encouraged to conduct their own research and co

  1. 2d ago

    Institutions Evaluate Cannabis While Trulieve CEO Sells Shares | TTB Presented by Flowhub

    In this episode of the Trade To Black Podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell explore two major developments shaping U.S. cannabis finance.We begin with Terry Mendez, CEO of Safe Harbor Financial (NASDAQ: SHFS), who joins us after the Benzinga Capital Conference in Chicago. Terry shares why institutional banks are quietly preparing for future cannabis exposure and what they’re learning as they evaluate the sector. Then Andrew O’Connell, author of the Pristine Capital Substack and a past participant in the U.S. Investing Championship, breaks down new data on Trulieve (NYSE: TRLV) and recent insider activity involving Kim Rivers. His analysis covers trading volume, timing, and how the stock has performed since uplisting to the NYSE — plus how the buyback authorization fits into the broader picture.O'Connell breaks down the data behind her planned share sales, how the volume compares to overall trading, and how the stock has behaved since uplisting to the New York Stock Exchange two weeks ago. He also reviews Trulieve’s newly authorized share‑buyback program and what the numbers may signal for investors tracking sector leadership.Like, subscribe, and leave your comments!#TradeToBlack #CannabisInvesting #TrulieveStock #InstitutionalCapital #CannabisStocks #CannabisIndustry #CannabisNews #CannabisReform #CannabisRescheduling #Cannabis #WeedStocksWant to see more Cannabis Reform?🎬    • Who’s Really Testifying At The ALJ Hearing...  🎬    • What Investors Are Missing About The ALJ H...  🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

    1h 3m

  2. 3d ago

    Industry Sentiment vs Reality + Could The Hemp Ban Be Extended? | TTB Presented by Flowhub

    In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell break down a major story in the hemp industry that's materialized in the last 24 hours. First though, Segment #1, Adam Stettner, CEO of FundCanna, joins us fresh off last week’s Chicago conference. While the sentiment on the floor was overwhelmingly positive, Adam pushed operators with a tougher question: What does positive sentiment actually mean for your business right now?Long‑term optimism is clearly building, but the short‑term reality still demands discipline. He explains further based on the feedback he learned.Then in Segment #2, Jim Higdon, Co‑Founder of Cornbread Hemp, joins us to break down developments out of Washington. Reports indicate the Trump administration has reached out to Congress regarding the proposed hemp ban, raising questions about whether the policy could be delayed, softened, or materially changed. Is there any truth to a potential delay in the hemp ban scheduled for November 12?Log on and find out. And make sure to like, subscribe, and leave your comments!#tradetoblack #CannabisNews #HempIndustry #Flowhub #FundCanna #CornbreadHemp #CannabisInvesting #HempPolicy #CannabisIndustry #Hemp #CannabisWant to see more Cannabis Reform?🎬    • Who’s Really Testifying At The ALJ Hearing...  🎬    • What Investors Are Missing About The ALJ H...  🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

    57 min

  3. 3d ago

    Who’s Really Testifying At The ALJ Hearing? | TDR Cannabis in 5

    In our latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales breaks down new reporting from Marijuana Moment after the full witness list was released for the DEA’s upcoming Administrative Law Judge hearing on cannabis rescheduling.One question immediately started circulating across social media: Outside of SAM, who are these groups?Shadd walks through each organization expected to testify, what role they actually play, and why the lineup may not mean what many investors initially assumed.The update explains why only opponents of rescheduling were invited to participate, why that follows the normal administrative process, and why the federal government—not outside witnesses—is now responsible for presenting the scientific case supporting Schedule III.It also looks at what the witness list says about the scope of the hearing. Rather than reopening the science behind cannabis, the testimony appears focused on policy objections from advocacy groups, trade organizations and prohibition-leaning states.Plus, why the limited scope of the hearing could actually make the Administrative Law Judge’s job more straightforward, and why many investors may be overlooking what this process is really designed to accomplish.As the June 29 hearing approaches, understanding the process may be just as important as following the headlines.#CannabisStocks #CannabisNews #CannabisInvesting #ScheduleIII #DEA #CannabisReform #MSOS #CannabisIndustry #MarijuanaMoment #CannabisLegalizationWant to see more Cannabis Reform?🎬    • What Investors Are Missing About The ALJ H...  🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

    8 min

  4. 4d ago

    ALJ Timeline Questions + CBD Data That Could Influence Federal Decision | TTB Presented by Flowhub

    In our latest Trade To Black podcast presented by FlowHub, hosts Shadd Dales and Anthony Varrell open with Segment One featuring Anthony Coniglio, CEO of NewLake Capital Partners (OTCQX: NLCP).Coniglio spent last week meeting with small‑cap investors at a focused gathering in Las Vegas — groups that follow the cannabis sector closely and are already well aware of the momentum around federal reform. While cautious in the near term, they’re clearly watching the sector again.He also shares insights from the IgniteIt Conference in Chicago, where consolidation was a dominant theme. Plus he provides his perspective on the ALJ hearing timeline, and what he thinks will unfold this summer for the cannabis industry.Then in Segment Two, Sasha Kalcheff‑Korn, Executive Director of Realm of Caring,will join us for our weekly Vantage Standard segment presented by Vantage. Her company Realm of Caring has nearly a decade of real‑world cannabinoid outcomes — the same type of evidence CMS is seeking through the CBD Pilot Program. She explains why their data matters and what patterns they’re seeing.Like, subscribe, and leave your comments!#CannabisInvesting #TradeToBlack #CannabisStocks #NewLakeCapitalPartners #CannabisReform#CBDPilotProgram #RealmOfCaring #VantageStandard #CannabisIndustry #CannabisNewsWant to see more Cannabis Reform?🎬    • What Investors Are Missing About The ALJ H...  🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

    1h 15m

  5. 4d ago

    What Investors Are Missing About The ALJ Hearing | TDR Cannabis in 5

    In our latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales takes a closer look at last week’s DEA announcement and why so many cannabis investors may be reading it the wrong way.Following the June 19 Preliminary Order, there was no shortage of confusion across social media. Some investors viewed it as a setback. Others questioned whether the rescheduling process was being delayed. But when you actually look at what the Administrative Law Judge put in writing, the takeaway may be very different.Shadd breaks down what changed, why the hearing process is now more streamlined than many expected, and why the July 15 conclusion date could be one of the most important details investors should be paying attention to.The update also covers why only opponents of rescheduling were invited to participate in the hearing, what role the federal government now plays in the process, and how the public comment record factors into the next stage of reform.More importantly, this is about separating the headlines from the actual administrative process. Because right now, the biggest risk for investors may not be the hearing itself — it may be misunderstanding what the hearing is actually designed to accomplish.With the June 29 hearing approaching, Shadd walks through the key developments to watch and explains why many industry observers believe the process is moving forward more efficiently than most people realize.The bottom line: while some viewed the June 19 order as a negative development, others see it as a sign that the DEA is narrowing the scope of the hearing, limiting delays, and moving the process toward a conclusion this summer.#CannabisStocks #CannabisNews #CannabisInvesting #ScheduleIII #CannabisReform #DEA #MSOS #CannabisIndustry #CannabisLegalization #CannabisInvestorsWant to see more Cannabis Reform?🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  🎬    • Trulieve Becomes First Cannabis MSO Approv...  🎬    • Cannabis Stocks Arrive On Robinhood | TDR ...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

    6 min

  6. 5d ago

    Virginia Legalization Is Back On Track | TTB Presented by Flowhub

    In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell break down several stories that grabbed investors' attention. First up, we turn to the psychedelic space following positive Phase 3 results from Definium Therapeutics (NASDAQ: DFTX) for its lead depression treatment candidate. The news sparked a strong reaction in the market and put renewed focus on the broader psychedelic investment landscape.Then in Segment #1, Nik Kouparanis of Bloomwell logs on to discuss the current state of Germany’s cannabis market. Topics include patient growth, telehealth, pricing trends, and whether Germany could eventually become an attractive destination for U.S. cannabis exports if federal reform continues to move forward.Then in Segment #2 we shift to the U.S. side, where Trent Woloveck of Jushi Holdings (OTCQB: JUSHF) joins the program to discuss Virginia’s newly approved adult-use cannabis framework. The state budget now establishes a pathway toward regulated adult-use sales beginning July 1, 2027, creating a significant opportunity for operators already established in the medical market.We cover the licensing structure, conversion pathway for existing operators, taxation, market rollout, and why many industry observers view Virginia as one of the most important emerging cannabis markets in the United States.Like, comment, subscribe and leave your comments!#CannabisStocks #CannabisInvesting #CannabisNews #MSOS #VirginiaCannabis #GermanyCannabis #Jushi #Psychedelics #ScheduleIII #CannabisReformWant to see more Cannabis Reform?🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  🎬    • Trulieve Becomes First Cannabis MSO Approv...  🎬    • Cannabis Stocks Arrive On Robinhood | TDR ...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

    1h 10m

  7. 6d ago

    The Stage Is Set For The Most Important Hearing In Cannabis History | TTB Presented by Flowhub

    In our latest Trade To Black podcast presented by Flowhub, host Anthony Varrell welcomes back Michael Bronstein, President of the American Trade Association for Cannabis & Hemp (ATACH), for a critical update as the cannabis industry enters one of the most consequential weeks in its history.With the DEA Administrative Law Judge hearing set to begin June 29, Michael breaks down the latest on scheduling and participation from the aggrieved parties — including SAM, NDASA, MMJ International Holdings, and the attorneys general from Indiana, Nebraska, and Louisiana — who have filed both a consolidated lawsuit and a motion to stay the rescheduling order in the D.C. Circuit. How will their participation in the ALJ hearing intersect with the pending litigation? And could a court-issued stay disrupt the hearing before it even gets started?The conversation also covers the broader landscape heading into the second half of 2026: Trulieve trading on the NYSE, Glass House's exchange application, deconsolidation transactions, DEA on-site inspections already underway at registered dispensaries, the Virginia compromise expected to pass this month, and growing momentum around institutional capital re-engaging with cannabis.Plus, Michael shares his read on the hemp regulatory outlook, where Congress stands on the federal THC ban, and what ATACH is doing behind the scenes to defend cannabis reform at the federal level.Whether you're an investor, operator, or policy follower, this episode provides essential context heading into the most important hearing in cannabis history.#GlassHouseBrands #GLAS #TradeToBlack #CannabisNews #NYSE #KyleKazan #MarcCohodes #MSOS #DEA #SupremeCourt #CannabisStocks #TrumpAdministration #CannabisReschedulingWant to see more Cannabis Reform?🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  🎬    • Trulieve Becomes First Cannabis MSO Approv...  🎬    • Cannabis Stocks Arrive On Robinhood | TDR ...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

    59 min

  8. 6d ago

    Why Wall Street Is Waiting | TDR Cannabis in 5

    Welcome to the latest TDR Cannabis in Five with host Shadd Dales.Everyone is talking about Trulieve (NYSE: TRLV), the upcoming ALJ hearing, and cannabis rescheduling. But there may be an even bigger story developing behind the scenes: Wall Street.In this episode, we break down why major financial institutions like JPMorgan, Merrill Lynch, UBS, and Deutsche Bank are closely watching the cannabis industry but haven’t fully stepped in yet. The reason comes down to one thing: regulatory clarity.With the June 29 ALJ hearing approaching and a final decision expected shortly afterward, banks, brokerages, and institutional investors are waiting to see whether adult-use cannabis is officially included under the new Schedule III framework.If that happens, it could unlock a wave of changes across the industry, including institutional capital, research coverage, custody solutions, capital raises, broader brokerage access, and significantly improved liquidity.We also discuss why hedge funds continue to focus on trading volume and liquidity before entering the sector, and how a favorable regulatory outcome could quickly change the landscape for cannabis stocks.Companies like Trulieve (NYSE: TRLV), Glass House Farms (NYSE: GLAS), Curaleaf (TSX: CURA | OTCQX: CURLF), Green Thumb Industries (CSE: GTII | OTCQX: GTBIF), and Verano Holdings (Cboe Canada: VRNO | OTCQX: VRNOF) could all benefit from increased institutional participation if Wall Street receives the clarity it has been waiting for.The question is no longer whether Wall Street is paying attention.The question is what happens when Wall Street finally gets the green light.#CannabisStocks, #CannabisInvesting, #ScheduleIII, #CannabisNews, #MSOS, #WallStreet, #Trulieve, #GlassHouseBrands, #Curaleaf, #CannabisIndustryWant to see more Cannabis Reform?🎬    • Virginia Cannabis Legalization Back On Tra...  🎬    • Lawsuit Targets Cannabis Rescheduling Proc...  🎬    • Trulieve Becomes First Cannabis MSO Approv...  🎬    • Cannabis Stocks Arrive On Robinhood | TDR ...  Want to stay updated on Cannabis, Small Cap, AI, and Crypto?Subscribe to our Daily Baked newsletter:https://newsletter.thedalesreport.com...Find us on social media and podcast platforms:✅ Facebook:   / thedalesreport  ✅ Twitter:   / thedalesreport  ✅ Instagram:   / dalesreport  ✅ LinkedIn:   / the-dales-report  Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon...Spotify: https://tinyurl.com/TDRTradeToBlackon...Website: https://thedalesreport.com/For copyright matters, contact:sdales@thedalesreport.comPodcast Disclaimer (Financial Interests)The views and opinions expressed in this podcast are those of the hosts and guests and do not necessarily reflect the official policy or position of any company, organization, or employer. The content is provided for informational and entertainment purposes only and should not be taken as financial, investment, or legal advice.The hosts and/or guests may hold positions in the companies, stocks, or financial instruments discussed during the show. These holdings should not be considered endorsements or recommendations to buy or sell any securities. Listeners are encouraged to do their own research or consult with a qualified financial advisor before making any investment decisions.By listening to this podcast, you agree that the hosts, guests, and producers are not liable for any decisions made based on the information discussed.Full Disclosures: https://thedalesreport.com/website-te...

    7 min
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About

We are a business news platform that provides the latest and best insight into the stories that make headlines worldwide. From cannabis to psychedelics, crypto and more, we give institutional and retail investors an inside edge in the competitive world of investing. And we profile companies that are making waves in their ever-growing industries. We are The Dales Report. The information provided in this podcast is for educational purposes only and should not be considered as financial or investment advice. Listeners are encouraged to conduct their own research and co

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