TDR
A daily financial news show for the US cannabis sector, focused on stock analysis, regulatory changes, and executive interviews.
This is a financial news show for active traders and investors in the cannabis niche. It's less about the culture or science of cannabis and almost entirely about the money: stock prices, M&A, regulatory arbitrage, and balance sheets. The hosts act as interpreters of complex financial news, bringing on CEOs and analysts to dissect SEC filings, political announcements, and market trends in real-time.
“Its relentless daily cadence and singular focus on the financial mechanics of the US cannabis market sets it apart. While others cover cannabis broadly, TDR lives in the weeds of 280E tax code, uplisting requirements, and insider stock sales, treating cannabis companies as financial assets to be analyzed.”
Who hosts this show
The Dales Report is a daily financial news outlet focused on the emerging US cannabis market. Hosted by founder Shadd Dales and co-host Anthony Varrell, the show provides market analysis, regulatory updates, and interviews with C-suite executives. Through its flagship "Trade to Black" podcast and "Cannabis in 5" segments, it tracks stock movements, federal policy, and the operational realities of publicly traded cannabis companies.
Credentials & credits
- Founder, The Dales Report
- Founder, The Deep Dive
Other ventures
- The Deep Dive (Financial media company)
What kind of podcast
- Country
- United States
- Region
- usa
When new episodes drop
- 01How 280E Changes Everything | TDR Cannabis in 5Jun 27, 2026 · 5 min
- 02Inside LEEF Brands’ Massive Outdoor Grow | Trade to BlackJun 26, 2026 · 18 min
- 03
- 04
- 05Who’s Really Testifying At The ALJ Hearing? | TDR Cannabis in 5Jun 25, 2026 · 8 min
- 06
- 07What Investors Are Missing About The ALJ Hearing | TDR Cannabis in 5Jun 24, 2026 · 6 min
- 08Virginia Legalization Is Back On Track | TTB Presented by FlowhubJun 23, 2026 · 1h 10m
Notable episodes
- 01How 280E Changes Everything | TDR Cannabis in 5
A perfect example of the show's core value: breaking down a complex financial catalyst (the end of tax code 280E) into specific, dollar-figure impacts for major cannabis companies.
- 02Inside LEEF Brands’ Massive Outdoor Grow | Trade to Black
Showcases the 'On Location' format, using drone footage and a physical tour to illustrate the immense scale and strategic advantages of a major cannabis cultivation operation.
- 03Institutions Evaluate Cannabis While Trulieve CEO Sells Shares
Demonstrates the multi-guest panel format, bringing in a banking CEO and a CFA to analyze insider trading, institutional interest, and the path to uplisting on major exchanges.
What you'll be asked on this show
Shadd Dales is a context-setting interviewer. He opens by summarizing a complex news event, like a DEA hearing or an SEC filing, and then asks a broad, strategic question to his guest, such as "What does this actually mean for your business right now?". He uses his co-host, Anthony Varrell, to add color and a second angle. Rather than aggressive pushback, he probes by contrasting guest optimism with market realities or by asking them to break down technical topics for his investor audience. He frequently closes segments by asking for a forward-looking prediction or strategic advice.
The show alternates between short, solo-host data dives ("Cannabis in 5") and longer, multi-guest panel discussions ("Trade to Black"). Host Shadd Dales and co-host Anthony Varrell frame topics with recent news before bringing in CEOs and analysts. The style is fast-paced, news-driven, and often incorporates live viewer comments from the YouTube stream.
Questions the host keeps coming back to
12 cataloguedIf you're going on this show as a guest, expect some version of each of these. Each note explains when the host reaches for it.
money
3- Q.01
“What does this industry optimism actually mean for your business today?”
He asks this to cut through conference hype and ground positive sentiment in current financial reality.
- Q.02
“What are the key questions you're hearing from investors or banks right now?”
This surfaces the current concerns and focus of the financial community.
- Q.03
“How do specific operational choices, like growing from seed versus clones, impact your costs?”
He uses this to connect a company's physical operations directly to its financial efficiency.
controversy
2- Q.01
“Can you break down your analysis of this recent news event?”
This is a common opener to a guest segment, asking them to provide expert commentary on a specific market-moving story.
- Q.02
“What's the political motivation behind this recent statement or action?”
This question seeks to understand the 'why' behind political maneuvering, especially from figures like Trump or McConnell.
advice
1- Q.01
“How should operators be positioning themselves for this next potential wave?”
This question seeks actionable, forward-looking advice for the business owners in his audience.
mindset
1- Q.01
“How are you preparing your business for the next 30-90 days?”
He asks this to get a sense of a guest's short-term strategy and mindset ahead of binary events.
future
1- Q.01
“How realistic is this specific political or regulatory outcome?”
Used to get an expert's odds on a potential legislative or administrative action, like a ban being delayed.
industry
1- Q.01
“What kind of interest are you seeing from larger industry players or MSOs?”
He asks this to gauge the M&A and partnership landscape from the perspective of a potential target or partner.
process
2- Q.01
“Can you walk us through the size and scale of this operation?”
Often used in on-location interviews to establish the physical and financial scope of a guest's business.
- Q.02
“Who are the key lawmakers or players you're talking to in Washington?”
A direct question to guests involved in lobbying to understand where legislative progress is actually being made.
origin
1- Q.01
“What was the backstory behind choosing this particular location or strategy?”
This question uncovers the strategic thinking and origin story of a company's key decisions.
Signature segments
- · Trade to Black
- · TDR Cannabis in 5
- · We Set The Narrative
- · On Location
Topics covered repeatedly
Who gets booked here
Guests are almost exclusively C-suite executives (CEOs, founders) of publicly traded cannabis or ancillary companies, along with financial analysts and industry-specific service providers. They are booked to provide expert commentary on financial news, market strategy, and regulatory impacts.
- Micah Andersonon Inside LEEF Brands’ Massive Outdoor Grow | Trade to Black
- Terry Mendezon Institutions Evaluate Cannabis While Trulieve CEO Sells Shares | TTB Presented by Flowhub
- Andrew O'Connellon Institutions Evaluate Cannabis While Trulieve CEO Sells Shares | TTB Presented by Flowhub
- Adam Stettneron Industry Sentiment vs Reality + Could The Hemp Ban Be Extended? | TTB Presented by Flowhub
- Jim Higdonon Industry Sentiment vs Reality + Could The Hemp Ban Be Extended? | TTB Presented by Flowhub
Where to find this show
Audience & reach
Sponsorship is heavily geared towards B2B cannabis tech (Flowhub), finance (FundCanna), and investment vehicles (AdvisorShares ETFs). The angle is reaching an audience of active investors and business operators in the cannabis industry. Estimated sponsor segments are typically pre-roll and mid-roll reads by the host.
Subscriber and view counts are pulled live from YouTube and re-verified on a 30-day cycle. Listener estimates for the RSS feed aren't published here unless they're host-verified.
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People also ask
- Who are the hosts?
- The primary host is founder Shadd Dales, frequently joined by co-host Anthony Varrell.
- What is the show's main focus?
- It focuses on the financial and business side of the US cannabis industry, including stocks, M&A, regulatory news, and market analysis.
- What are the different show formats?
- The main formats are "Trade to Black," a long-form interview and panel show, and "TDR Cannabis in 5," a short solo-host segment analyzing a specific news item.
- Is the show still active?
- Yes, The Dales Report produces new content on a daily basis.
- What kind of guests appear on the show?
- The show primarily features C-suite executives from cannabis companies, financial analysts, and other industry experts.
- Where can I watch or listen?
- The primary platform is YouTube, with episodes also distributed as audio podcasts.
Built from the show's public RSS feed, YouTube, the host's own websites, and the cited sources below. Computed and AI-extracted fields are labelled. Facts only — no private info, no fabrication, no transcripts republished.
Sources & how this page was built
This page is AI-assisted, grounded in the public sources cited below, and host-verifiable. We publish facts only; we do not republish transcripts. If anything here is wrong, the host can claim and correct the page above.Model: gemini-2.5-pro · high confidence
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