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The Dales Report | Trade to Black

The Dales Report | Trade to Black

By: Dales Media Group
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Summary
 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 coDales Media Group Economics Hourly Personal Finance
Episodes
  • Who Qualifies for DEA Registration, and Who Doesn't | TTB Presented by Flowhub

    Who Qualifies for DEA Registration, and Who Doesn't | TTB Presented by Flowhub
    Nov 3 2026
    LIVE at 4 PM ET: Shadd Dales and Anthony Varrell kick off a busy Monday on the Trade to Black podcast, presented by Flowhub, with two interviews on cannabis earnings, DEA registrations and the future of federal marijuana rescheduling.First, Jushi Holdings (CSE: JUSH) (OTCQX: JUSH) Chairman and CEO Jim Cacioppo joins after the company's Q3 2026 results. Jushi (CSE: JUSH) (OTCQX: JUSH) reported revenue of $70.5 million, up 7% from a year ago, adjusted EBITDA of $13.6 million at a 19.3% margin, and a net loss of $12.5 million. Wholesale revenue rose 40% to $9.7 million, a second straight quarterly record, and Virginia posted another record quarter for retail and delivery sales, ahead of adult-use sales scheduled to begin July 1, 2027. The discussion covers wholesale growth, key markets, Virginia and what investors should watch as earnings season continues.In segment two, Eric Berlin of Dentons, one of the country's leading cannabis attorneys, returns to break down the latest in federal marijuana reform. The Justice Department says the DEA is registering more than 900 medical marijuana dispensaries in seven states, and nearly 7,000 businesses applied. But the agency is also rejecting certain applications, including from businesses operating under combined medical and recreational licenses, since the April order covers qualifying medical activity only. What do these decisions mean for operators and investors, and how does the separate proceeding before Judge Derek Julius on broader Schedule III rescheduling fit in? Berlin addresses the legal implications and what could come next.#TradeToBlack #Cannabis #CannabisEarnings #CannabisStocks #CannabisRescheduling #Marijuana #MarijuanaStocks #CannabisNews #Weed #cannabisindustry Want to see more Cannabis Reform?🎬 • Which Cannabis Businesses Won't Qualify fo... 🎬 • DEA Just Made a Major Move on Marijuana | ... 🎬 • DEA Pushes Back on New Challenge to Mariju... 🎬 • Most Veterans Support Marijuana Legalizati... 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...
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    1 hr and 10 mins
  • Which Cannabis Businesses Won't Qualify for DEA Registration? | TDR Cannabis in 5

    Which Cannabis Businesses Won't Qualify for DEA Registration? | TDR Cannabis in 5
    Nov 3 2026
    The DEA is rejecting certain marijuana businesses seeking federal registration, and that has people asking whether companies in states with both medical and recreational programs could be shut out. In this TDR Cannabis in 5, host Shadd Dales breaks down Marijuana Moment's report that the DEA refused to approve a Minnesota dispensary because the state's license covers both medical and recreational sales. The agency says that doesn't satisfy President Trump's April order, which gave Schedule III treatment to qualifying medical marijuana activities but not recreational marijuana. The DEA is applying the rules that exist today, not the rules that could exist if broader rescheduling is approved.The video puts the rejection in context. The Justice Department says more than 900 medical dispensaries in seven states are receiving registrations, and nearly 7,000 businesses applied. Applying doesn't mean qualifying, and some applicants held recreational-only licenses. The host says executives he spoke with haven't received approvals or rejections yet, and that Pennsylvania's absence from the first group doesn't mean rejection.The second half looks at what broader rescheduling would change. Judge Derek Julius is overseeing the proceeding on moving marijuana from Schedule I to Schedule III, which could bring potential relief from Section 280E and a different federal classification. It wouldn't automatically give every dispensary registration or legalize recreational sales nationwide. The host's takeaway: reform is happening in stages, and today's rejections under a limited medical order aren't necessarily the final rules for the industry.Will broader rescheduling clear a path for dual-license operators? Share your thoughts in the comments.#Cannabis #CannabisStocks #CannabisNews #CannabisIndustry #CannabisInvesting #Marijuana #Weed #CannabisRescheduling #DEA #TDRCannabisIn5Want to see last week's recap?🎬 • DEA Registers 900+ Dispensaries, but Not E... Want to see more Cannabis Reform?🎬 • DEA Just Made a Major Move on Marijuana | ... 🎬 • DEA Pushes Back on New Challenge to Mariju... 🎬 • Most Veterans Support Marijuana Legalizati... 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...
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    8 mins
  • DEA Registers 900+ Dispensaries, but Not Every License Qualifies | TTB Weekly Recap

    DEA Registers 900+ Dispensaries, but Not Every License Qualifies | TTB Weekly Recap
    Nov 2 2026
    This week's Trade to Black Weekly Recap, presented by FRE, covers the DEA granting federal registrations to more than 900 medical marijuana dispensaries in seven states: Alabama, Florida, Mississippi, South Dakota, Texas, Virginia and West Virginia. Host Shadd Dales explains that the DEA also disclosed 6,983 applications, including 4,000-plus dispensaries, 2,000-plus manufacturers and 710 distributors. But the agency refused to approve a Minnesota dispensary because the state's license covers both medical and recreational sales, which doesn't fit the April medical order, and Pennsylvania's 227 applications weren't in the first group. Broader rescheduling remains before Judge Derek Julius.On earnings, Jushi Holdings (CSE: JUSH) (OTCQX: JUSH) grew revenue 7% to $70.5 million with record wholesale sales. Verano Holdings (OTCQX: VRNO) reported about $212 million in revenue, $49 million in operating cash flow and a net loss narrowed to about $4 million. SNDL (NASDAQ: SNDL) (CSE: SNDL) posted record free cash flow of about C$20 million but took a C$52 million impairment on its cannabis operations. Tilray Brands (NASDAQ: TLRY) (TSX: TLRY) cut its brewing footprint and reaffirmed its fiscal 2027 adjusted EBITDA guidance of $68 million to $75 million ahead of its January 1 Carlsberg (Nasdaq Copenhagen: CARL B) partnership.Kentucky now has dispensaries in all 11 licensing regions after Cresco Labs (CSE: CL) (OTCQX: CRLBF) opened in Prestonsburg, with more than 28,000 approved patients.Next week, Curaleaf (TSX: CURA) (OTCQX: CURLF), Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF), Trulieve (NYSE: TRLV) and Cresco report. Jim Cacioppo of Jushi joins Monday's livestream and Boris Jordan of Curaleaf joins Thursday.#Cannabis #CannabisStocks #CannabisNews #CannabisEarnings #CannabisIndustry #MarijuanaStocks #CannabisInvesting #Marijuana #Weed #CannabisReschedulingWant to see more Cannabis Reform?🎬 • DEA Just Made a Major Move on Marijuana | ... 🎬 • DEA Pushes Back on New Challenge to Mariju... 🎬 • Most Veterans Support Marijuana Legalizati... 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...
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    10 mins
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