Shares of several cannabis companies includingĀ Tilray BrandsĀ Inc TLRY,Ā Canopy Growth Corp CGC andĀ Aurora Cannabis Inc ACBĀ are trading higher Monday following reports thatĀ Senate Majority Leader Chuck Schumer said Congress is “very close”Ā to passing a marijuana banking and expungements bill.
What Happened: According to a Marijuana Moment report, Schumer hasĀ indicated that Congress is close to introducing and passing a bill on cannabis.
“We are getting very close,ā Schumer reportedly said in aĀ debate on Sunday.
“I am working in a bipartisan way with Democrats and Republicans to take the SAFE Banking Act, which allows financial institutions to involve themselves in cannabis companies and lend money to themābut it also does some things for justice, such as expunging a record.”
The SAFE Plus bill that Schumer is working to finalize is not expected to include language that would federally legalize marijuana, but it’s a step in the right direction for cannabis companies.Ā
āWe may be able to get something done rather soon. Iām working with a bunch of Republican senators, a bunch of Democratic senators, to get something passed,” Schumer said.Ā
See Also:Ā A Sinister Reason May Be Behind Governors’ Opposition To Cannabis Legalization
TLRY, CGC, ACB Price Action: At time of publication, Tilray was up 11.8% at $4.06, Canopy Growth was up 16.2% at $3.66 and Aurora was up 8.2% at $1.39.
Photo:Ā TinaKruĀ from Pixabay.
Be the first to comment