CGC - Pot stocks rally as Senate committee meeting reignites legalization hopes

Cannabis companies in the U.S. and Canada are rising in the morning hours Wednesday ahead of a Senate hearing to discuss the possibility of federal decriminalization of marijuana.

The Senate Judiciary Subcommittee on Crime and Terrorism, chaired by Sen. Cory Booker (D-NJ), is expected to meet on Tuesday for the discussion.

The meeting titled “Decriminalizing Cannabis at the Federal Level: Necessary Steps to Address Past Harms” is expected take up a long-anticipated measure that Senate Democrats plans to introduce this week to legalize marijuana at the federal level, Marijuana Moment reported.

Notable gainers in the cannabis space include: Canopy Growth ( CGC ), Tilray ( NASDAQ: TLRY ), Aurora Cannabis ( ACB ), GrowGeneration ( GRWG ), TerrAscend ( OTCQX:TRSSF ), HEXO Corp. ( HEXO ), Sundial Growers ( SNDL ), OrganiGram Holdings ( OGI ), Cresco Labs ( OTCQX:CRLBF ) and Cronos Group ( CRON )

Cannabis-related ETFs, AdvisorShares Pure US Cannabis ETF ( MSOS ) and Global X Cannabis ETF ( POTX ) are trading higher.

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