TLRY - Cannabis Stocks Jump As Senate Committee Approves Cannabis Banking Bill | Benzinga
U.S. cannabis stocks jumped Wednesday following the Senate Banking Committee approval of the Secure and Fair Enforcement Regulation (SAFER) Banking Act before pulling back.
Such companies as Canopy Growth Corp (NASDAQ: CGC), Cronos Group Inc (NASDAQ: CRON), Aurora Cannabis Inc (NASDAQ: ACB), SNDL Inc (NASDAQ: SNDL) and Tilray Brands Inc (NASDAQ: TLRY) scooted up between 3% and 6.5%. The AdvisorShares Pure US Cannabis ETF (NYSE: MSOS) spiked 6% following the vote.
The SAFER Banking Act, introduced by a bipartisan group of senators last week, will now move to the Senate floor.
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