Shadd Dales

Toronto

CEO and Founder at The Dales Report

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Articles

Cannabis Over Alcohol? The Beverage Threat To Big Booze

2 days ago | thedalesreport.com | Shadd Dales

On this episode of the Trade To Black podcast, Shadd Dales and Anthony Varrell break down four major stories that every serious cannabis investor should be tracking right now. First, Brown-Forman CEO Lawson Whiting says cannabis is a risk to the alcohol industry. JAMA Internal medicine has some surprising data in geriatric marijuana use. North Carolina’s governor is looking at reform, and finally, a federal proposal that could cause a major wave in the industry.
BioPharma CEO Accuses DEA of Blocking Cannabis

3 days ago | thedalesreport.com | Shadd Dales

In the latest Trade to Black podcast, hosts Shadd Dales and Anthony Varrell spotlight two high-impact stories shaking the cannabis sector—one in the U.S., the other in Germany—with conversations you won’t want to miss if you’re following medical cannabis, DEA reform, or European market expansion. The first is mounting tensions in global cannabis reform, starting with a heated confrontation in the U.S. between biotech firm MMJ BioPharma Cultivation and the Drug Enforcement Administration (DEA).
Luc Mongeau Talks Canopy Growth's Latest Earnings

5 days ago | thedalesreport.com | Shadd Dales

On the latest Trade To Black podcast, hosts Shadd Dales and Anthony Varrell sit down with new Canopy Growth CEO Luc Mongeau to break down their Q1 2025 earnings — and whether this could finally mark the beginning of a true turnaround for the company. Mongeau has been at the helm now for just over five months. Michael Bronstein, president of ATACH, also joins the show to break down what’s heating up in Pennsylvania and Texas.
The Cannabis Industry's New Political Reality

1 week ago | thedalesreport.com | Shadd Dales

In this episode of the Trade to Black podcast, hosts dissected some of the cannabis industry’s most pressing developments—spanning collapsing companies, political controversy, and regulatory dysfunction. Ayr Wellness, a once-prominent multi-state cannabis operator, now faces a potential collapse. With its stock price down over 50% and a cease trade order imminent, the company has enlisted Moelis & Company to oversee a strategic restructuring.
Rubicon Q1 2025; Thomas Winstanley On Texas' Hemp Crisis

1 week ago | thedalesreport.com | Shadd Dales

On the latest Trade To Black podcast, host Shadd Dales and Anthony Varrell break down two high-impact cannabis stories this week—one from Canada, the other from Texas. First up, Rubicon Organics (TSXV: ROMJ) is showing real financial progress on their Q1 2025 revenue. And in Texas, lawmakers are pushing forward with Senate Bill 3, which would be a sweeping hemp ban that could dismantle the state’s legal market. Thomas Winstanley, EVP of Edibles.com, joins the show to break Texas’s hemp ban down.
MediPharm Showdown: Apollo Capital Pushes for Change

1 week ago | thedalesreport.com | Shadd Dales

On our latest Trade To Black podcast, host Shadd Dales takes a closer look at the growing tension between MediPharm Labs (TSX: LABS) and one of its largest independent shareholders. Regan McGee, the CEO of Apollo Technology Capital Corporation, and John Fowler, industry veteran, join the show to break down their campaign to replace MediPharm’s current board. This episode is an important listen for anyone following cannabis stocks, board governance, and the state of Canadian cannabis companies.
Texas Hemp Ban Triggers Industry Reaction

2 weeks ago | thedalesreport.com | Shadd Dales

In this pivotal Friday edition of the Trade to Black podcast, hosts Shadd Dales and Anthony Varrell are joined by Michael Bronstein of ATACH and Dan McDermitt from the Chart Guys to unpack a series of seismic developments across the cannabis and hemp industries: Texas may be on the verge of a hemp ban that could destroy an industry there overnight. Texas’s sweeping hemp-derived THC ban threatens to dismantle a $4 billion industry almost without warning.
Glass House Dominates Earnings With Q1 2025 Report

2 weeks ago | thedalesreport.com | Shadd Dales

On our latest Trade To Black podcast, Shadd Dales and Anthony Varrell break a wild earnings season. One standout? Glass House Brands, which many are calling the best earnings report of the quarter with $44.8 million in revenue, a 149% spike in biomass production, and a sharp drop in costs. It’s a performance that’s got investors paying close attention. Then, Top Gun fighter pilot turned psychedelics advocate Matthew “Whiz” Buckley returns with inside access to recent developments in Washington.
What Do Tariffs Mean For The Cannabis Industry?

2 weeks ago | thedalesreport.com | Shadd Dales

Join host Anthony Varrell and guest Anthony Coniglio, CEO of NewLake Capital Partners, for a sharp, no-nonsense breakdown of what tariffs really mean for the cannabis industry. Capital markets take center stage as the pair reflects on the latest earnings season, noting that hemp is also eroding more market share than previously thought. While headlines paint a dire picture, we dig into the facts: the actual exposure to tariffs is limited on cannabis production and labor.
Bronstein On Pennsylvania And Texas Cannabis Battles

3 weeks ago | thedalesreport.com | Shadd Dales

For our Friday Trade To Black podcast, hosts Shadd Dales and Anthony Varrell sit down with Michael Bronstein, president of the American Trade Association for Cannabis and Hemp (ATACH). There’s been a week of new developments in cannabis policy and reform to unpack. For people catching up, Bronstein explains what has happened in Pennsylvania and Texas, the latest on the rescheduling hearings, and the news from Curaleaf and Avicanna.