The Roundhill Cannabis ETF is up as much as 14 per cent, its largest intraday jump in six months, after a bipartisan group of senators reintroduced the SAFE Banking act. The MJ PurePlay 100 Index, which includes 100 cannabis-related stocks, is up nearly 8 per cent.
“Reintroduction of SAFE Banking, as well as the potential for a hearing, seemingly suggest a possible pathway for passage of the SAFE Banking Act this year,” Benjamin Salisbury of Height Commentary said in a note.
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