Cannabis stocks moved up Wednesday after the U.S. Senate Committee on Banking, Housing and Urban Affairs approved the Secure and Fair Enforcement Regulation...
Cannabis stocks moved up Wednesday after the U.S. Senate Committee on Banking, Housing and Urban Affairs approved the Secure and Fair Enforcement Regulation Banking Act, now known as the SAFER Banking Act of 2023.
The measure has been approved by the U.S. House of Representatives seven times but has yet to go to the full Senate for a vote. The AdvisorShares Pure US Cannabis exchange-traded fund MSOS was up 6% in trading shortly after the vote.Among individual cannabis names, Curaleaf Holdings Inc. CURLF, +2.59% was up by 5.4%, Green Thumb Industries Inc. GTBIF, -0.36% was up by 1%, Cresco Labs Inc. CRLBF, -3.38% was up by 1%, Trulieve Cannabis Corp. TCNNF, -1.63% was up by 1%, Tilray Brands Inc. TLRY, -3.34% was up by 2.1%, Canopy Growth Corp. CGC, -7.77% was up by 5.1% and Verano Holdings Corp. VRNOF, +1.27% was up by 3.8%.
Trulieve CEO Kim Rivers said: “Realizing this first vote out of the Senate signals strong bipartisan support from both chambers of Congress.”
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