On Thursday Trade to blackpresented by Flowhub. Jim Higdon, co-founder of Cornbread Hemp, joins us to break down developments out of Washington. Reports have surfaced that the Trump administration has approached Congress about a proposed ban on cannabis. This immediately raises questions about whether the November 12 deadline could be pushed back, softened, or materially changed before their second guest segment. FundCanna CEO Adam Stettner also joins us from last week’s Chicago conference.

In the first segment, Adam Stetter, CEO of FundCanna, updated the IgniteIt conference in Chicago with a perspective that cut through the sheer festivity that many attendees brought home. While acknowledging that the optimism in the room was real and well-founded, Stettner said he pressed operators with a more difficult question. What does positive sentiment really mean for your business now? He found that most had difficulty answering specifically.

He described the gap not as a reason for pessimism, but as a call for discipline. long-term momentum is building, but near-term fundamentals have yet to change significantly, and operators who mistake optimism for improving business risk making ill-timed moves.

In part two, Jim Higdon, co-founder of Cornbread Hemp, broke down developments in Washington around hemp prohibition. He described the White House’s latest message to Congress as the fourth meaningful shot at a legislative fix this year, and noted that the coalition seeking a solution is growing and the administration is getting more specific, now openly calling for Andy Barr’s bill or an extension of the framework as part of an additional appropriations package.

Higdon emphasized that Cornbread Hemp is focused on maintaining two routes; supplement-style full-spectrum CBD products with one or about three milligrams of THC per serving, consistent with the CMS Medicare pilot program, and low-dose beverages dispensed through a three-tier alcohol system. He was careful to distinguish those products from smoking cannabis flower, which he said is the main source of friction between cannabis and the state-licensed cannabis industry.

This and more when you join.

Shad Dales and Anthony Varrell hosted a special Friday morning edition Trade to blackpresented by Flowhub. We start with Safe Harbor Financial (NASDAQ: SHFS ) CEO Terry Mendez and his thoughts on the IgniteIt conference. Then Andrew O’Connell, author of the Pristine Capital Substack and former US Investment Champions, presents new data on recent insider activity related to Trulieve (NYSE: TRLV ) and CEO Kim Rivers.

The presenters opened by noting that the DEA has signaled its intention to emphasize testimony about the medical benefits of marijuana at hearings, making the scientific and medical record front and center;

In the first segment, Safe Harbor Financial (NASDAQ: SHFS ) CEO Terry Mendez joined the IgniteIt conference in Chicago to discuss what he sees from institutional banks as they quietly begin to prepare for the future impact of cannabis. He described a financial sector that is increasingly curious, but still cautious, where banks are seeking education on how to value space, how the compliance of cannabis infrastructure is required, and how consolidation among operators will affect deposit relationships and loan demand.

In the second installment, Andrew O’Connell, author of Pristine Capital Substack and former US Investment Championship contestant, is back to break down new information about recent insider activity involving Trulieve (NYSE: TRLV ) and CEO Kim Rivers. He explained that the sale of his stock was part of a standard 10b5-1 plan announced in March ahead of the NYSE float, giving investors a 90-day window before any trades could take place with an independent executing broker handling the trade and removing Rivers from any discretionary involvement.

He reviewed volume data that showed his sales represented five to seven percent of the day’s trading in several sessions, noted that roughly 91 percent of the first tranche of 1.7 million shares was completed, and emphasized that Rivers retains an ownership stake of roughly 9 percent, worth about $150 million. Hear the full interview when you listen.