Canopy, Tilray lead pot stocks higher on signs key U.S. banking legislation could pass this time

  • 📰 nationalpost
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 80%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Pot stocks jumped on signs that a key U.S. bill that failed several times to pass and weighed on the sector could win enough support. Read on.

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 eight per cent.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.

“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. While an earlier version of SAFE has passed the House multiple times, it’s now gaining support in the Senate and may be nearing the 60 votes needed to pass. The act would allow legal cannabis companies to access banking and financial services they’ve been barred from because marijuana remains illegal at the federal level. The reintroduced legislation includes Community Development Financial Institutions and Minority Depository Institutions.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 10. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Canopy, Tilray lead weed stocks higher on U.S. banking bill hopes - BNN BloombergWeed stocks surged after a key piece of legislation was reintroduced in U.S. Congress that would open up banking services to the legal cannabis industry.
Källa: BNNBloomberg - 🏆 83. / 50 Läs mer »

Former employee charged with defrauding businessRead the full story and comment on Tbnewswatch.com
Källa: tbnewswatch - 🏆 75. / 51 Läs mer »

Thunder Bay brewer competing in business pitch eventRead the full story and comment on Tbnewswatch.com
Källa: tbnewswatch - 🏆 75. / 51 Läs mer »