Pot stocks rise after a key senate hearing on cannabis banking reform

This morning, a key senate hearing on cannabis banking reform took place in Washington DC. Cannabis stocks such as Tilray, Canopy Growth, and Aurora gained after the hearing. The opinion of Senate Banking Chairman Mike Crapo will make or break efforts to move the Secure And Fair Enforcement Act forward. It would allow banks and financial institutions to work with cannabis companies legally. Read more on Markets Insider.

This morning, a key senate hearing on cannabis banking reform took place in Washington DC. Cannabis stocks such as Tilray, Canopy Growth, and Aurora gained after the hearing. The opinion of Senate Banking Chairman Mike Crapo will make or break efforts to move the Secure And Fair Enforcement Act forward. It would allow banks and financial institutions to work with cannabis companies legally. Read more on Markets Insider.

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California seizes $30 million in black market cannabis from illegal pot shopsCalifornia authorities have tripled the number of raids on unlicensed cannabis shops in the last year and seized $30 million in pot products, but legal industry leaders say enforcement is still inadequate to break the dominance of the black market. Go catch real criminals pls 🙄 I mean, wholesale price for a pound of weed on the futures market now is $500. So as long as dispensaries in CA charge $50/3.5g, the black market will thrive. Oregon dispensaries charge $125/28.5g, and do so quite profitably. Time to put in a VICTORY GARDEN.
Source: latimes - 🏆 11. / 82 Read more »

Senate panel looks at easing cannabis laws that restrict the industry's access to mainstream banking servicesU.S. lawmakers are looking at easing restrictions on cannabis laws that restrict the industry's access to mainstream banking services at a Senate hearing Tuesday — as momentum to reform federal marijuana laws builds in Congress.
Source: CNBC - 🏆 12. / 72 Read more »