The Dales Report | Trade to Black

Hosts Anthony Varrell and Shadd Dales break down a packed day in cannabis news with special guest Adam Stettner, Founder and CEO of FundCanna, the leading non-dilutive capital provider to the cannabis industry. Top of the docket: Vireo Growth's (CSE: VREO) all-stock acquisition of FLUENT Corp. (CSE: FNT.U), a deal that consolidates the Florida medical cannabis market and creates a combined ope...

In the latest TDR Cannabis in Five presented by Flowhub, Shadd Dales takes a step back and looks at what just happened over the past week—and why it matters. Because this wasn’t just another policy update. Between cannabis rescheduling and a new executive order on psychedelic research, we’re seeing one of the most meaningful shifts in U.S. drug policy in decades. On the cannabis side, the Departme...

In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell sit down with leadership from TerrAscend (TSX:TSND) to break down Q1 2026 preliminary earnings and what’s actually happening under the hood. Chairman Jason Wild and CEO Ziad Ghanem join us to walk through the numbers following their preliminary Q1 release. Revenue came in around $65.5M—slightly down qu...

In the latest TDR Cannabis in Five presented by Flowhub, Shadd Dales breaks down a different angle on the biggest cannabis story of the year—how the White House is now talking about rescheduling, and how Americans are reacting to it. According to reporting from Marijuana Moment, the Trump administration’s move on cannabis isn’t just historic—it’s overwhelmingly popular with voters. And now, that m...

In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell break down two conversations that are front and center right now: how to approach options trading in cannabis and psychedelic stocks, and the growing debate around the Farm Bill and hemp regulation. In segment one, Matthew “WHIZ” Buckley — former Top Gun fighter pilot and founder of Top Gun Options — j...

In the latest Trade To Black Weekly Recap presented by FRE Pouch, Shadd Dales breaks down one of the most important weeks the cannabis industry has seen in decades. The headline—cannabis rescheduling is now official. The Department of Justice, led by Acting Attorney General Todd Blanche, has moved certain cannabis products from Schedule I to Schedule III. It’s a major shift—but not across the boar...

In the latest TDR Cannabis in Five presented by Flowhub, Shadd Dales breaks down what the cannabis rescheduling announcement actually means—and just as important, what it doesn’t. After the Department of Justice officially moved cannabis from Schedule I to Schedule III, there’s been a lot of excitement. But when you look at the details, this isn’t a blanket change across the entire industry. Actin...

In the latest TDR Cannabis in Five presented by Flowhub, Shadd Dales breaks down what could be the biggest federal cannabis policy shift in decades. According to new reporting from CNN and Reuters, the Department of Justice has now moved forward with rescheduling—reclassifying FDA-approved and state-licensed medical cannabis from Schedule I to Schedule III.This isn’t speculation. This is signed fe...

In our latest Trade To Black podcast, hosts Shadd Dales and Anthony Varrell break down what could be the biggest moment the U.S. cannabis industry has ever seen. The Department of Justice has officially finalized the move to reschedule medical cannabis to Schedule III—and if you’ve been following this space, you already know… this changes everything. We get into what this actually means right now....

In the latest TDR Cannabis in Five presented by Flowhub, Shadd Dales breaks down new reporting from The Washington Post that suggests cannabis rescheduling may finally be moving again after months of delays. After President Donald Trump signed the executive order on December 18, 2025 directing the DOJ to move cannabis from Schedule I to Schedule III, the expectation was that this would move quickl...

In the latest Trade To Black livestream presented by Flowhub, Shadd Dales and Anthony Varrell break down late-breaking news just reported by the Washington Post — and the question everyone’s asking right now:Is this finally it for cannabis rescheduling? In segment one, investor Marc Cohodes joins the show to react to the Washington Post report suggesting rescheduling could be nearing the finish li...

In the latest TDR Cannabis in 5 presented by Flowhub, Shadd Dales breaks down a headline out of Washington where there are claims that there are now enough votes in Congress to pass federal cannabis reform. According to reporting from Marijuana Moment, a top House Democrat says the votes are there—but only if Republican leadership actually brings it to the floor. And that’s the catch. Because we’v...

In our latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell are digging into the latest stories in cannabis—and there’s a lot happening right now. We start with a report suggesting Congress may actually have the votes to pass federal cannabis reform. It sounds promising, but as always in this industry, it raises the bigger question—does it finally get done this...

In the latest TDR Cannabis in 5 presented by Flowhub, Shadd Dales breaks down a newly published story from CNBC—and why the executive order signed over the weekend on psychedelic research may actually help push cannabis rescheduling across the finish line. During that press conference, President Donald Trump didn’t just focus on psychedelics. He brought up cannabis, said the process is being slow-...

A lot came out of Washington over the weekend—and it wasn’t just about psychedelics. In this episode of Trade To Black presented by Flowhub, host Shadd Dales and co-host Anthony Varrell break it down across two key segments. Segment 1 features Christian Angermayer, founder of atai Life Sciences (NASDAQ: ATAI) and Beckley Waves, joining the show to talk about the executive order signed by Donald Tr...

A headline out of Washington is getting attention—but for the cannabis industry, the reaction is a bit more measured. In the latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales breaks down recent comments from Senator Cory Booker, who said marijuana is “safer than McDonald’s French fries.”It’s the kind of line that’s designed to grab attention—and it worked. But for industry partici...

In this special edition of Trade To Black, presented by Flowhub, host Shadd Dales breaks down a major development out of Washington as President Donald Trump signs a new executive order aimed at accelerating psychedelic medicine research in the United States. The announcement focuses heavily on fast-tracking clinical pathways for breakthrough treatments like ibogaine, with a clear emphasis on help...

There’s now a clearer picture of what’s being proposed in Washington—and it adds a new layer to the hemp conversation. In the latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales follows up on earlier reporting around Rand Paul and a bipartisan effort to address hemp-derived THC products. The key update: instead of a full federal ban, the proposal would allow states to decide for the...

There’s a new development out of Washington that’s getting a lot of attention—especially on the hemp side of the industry. In the latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales breaks down a proposed bipartisan bill led by Senator Rand Paul aimed at protecting hemp products from potential federal restrictions. On the surface, the message is about protecting farmers, jobs, and c...

The cannabis industry just wrapped another earnings season, and one theme continues to dominate: cash flow is king. But while the largest MSOs are posting some of their strongest cash‑flow numbers to date, the broader industry isn’t experiencing the same momentum. In today’s Trade to Black presented by Flowhub, FundCanna CEO Adam Stettner returns to break down what’s really happening beneath the s...

There’s a new update out of Virginia—and it’s an important one if you’ve been following the path toward adult-use cannabis. In the latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales breaks down where things stand after Governor Abigail Spanberger returned the adult-use bill with a set of proposed amendments. The original legislation laid out a clear framework for launching retail s...

In the latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell sit down with Terry Mendez, CEO of Safe Harbor Financial (NASDAQ: SHFS), to understand what happens next as cannabis moves closer to federal reform. The focus here is simple—who’s actually ready for a post-280E world? Because if cannabis is rescheduled to Schedule III, the removal of 280E would complet...

There’s a new development out of Texas that’s worth paying attention to—especially if you’ve been following the hemp side of the industry. In the latest TDR Cannabis in Five presented by Flowhub, host Shadd Dales walks through what just happened after the state rolled out new hemp rules at the end of March that targeted products like THCA flower and other smokable hemp. Those rules were set to tak...

In the latest Trade To Black podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell sit down with Anthony Coniglio, CEO of NewLake Capital Partners (OTCQB: NLCP), for a high-level conversation that cuts straight through where the cannabis industry actually stands today. This episode connects two sides of the story investors need to understand right now — policy shifts and real company...

In the latest TDR Cannabis in Five presented by Flowhub, Shadd Dales breaks down an important update on the lawsuit tied to the Medicare pilot program for hemp-derived cannabinoid products. This is a story we’ve been following — and now the federal government has officially responded. Robert F. Kennedy Jr. and Dr. Mehmet Oz are asking the court to dismiss the lawsuit brought forward by Smart Appro...