Cannabis stocks soar after President Biden signs cannabis research bill
- The bill named Medical Marijuana and Cannabidiol Research Expansion Act cleared the House in April and unanimously approved by the Senate in November.
- SAFE Banking Act, if approved then will provide a host of benefits to the U.S. cannabis sector, cutting the cost of capital on debt and will allow CSE-domiciled companies to uplist on major Canadian or the U.S. exchanges.
- Optimism is also rising on passage of SAFE Banking Act. If passed, the SAFE Banking Act would remove uncertainties surrounding federally regulated financial institutions.
- It will prohibit a federal banking regulator from penalizing a depository institution for providing banking services to a legitimate cannabis-related business.
The AdvisorShares Pure U.S. Cannabis ETF MSOS, 7.91% bucked a down trend in the broad equities market on Monday and rallied 7.8%. The surge came days after President Joe Biden signed legislation Friday to expand cannabis research. Reports have also surfaced in recent days that the SAFE Plus Banking measure to open up access to the financial system for cannabis companies may be passed by the end of the year. Among individual stocks, Curaleaf Holdings CURLF, +5.93% rose 6%, Green Thumb Industries GTBIF, +2.36% advanced by 4.7%, Trulieve Cannabis Corp. TCNNF, +6.30% rose 8.3%, Cresco Labs Inc. CRLBF, +5.13% rose by 9% and Verano Holdings Corp. VRNOF, 4.51% rose 5.9%.
Cannabis stocks soar after President Biden signs cannabis research bill
About Cannin: Your Cannabis Stocks Resource
78% of Cannin’s fundamentals prove true within 30 days or less on 100+ recommendations over the past 2 years.
Cannin is your #1 trusted resource for cannabis stocks. Our global team of experts evaluates all emerging cannabis stock investing opportunities. In fact, we aggregate hundreds of hours of financial research and provide tips on the best cannabis stocks for 2021.
Use Cannin as your resource for:
Market analysts expect the marijuana and hemp industry will have an annual value exceeding $75 Billion in the next decade. Is it too late to invest in marijuana stocks? No! This is the perfect time to invest.
Are you looking to buy stock in hemp companies or marijuana companies for 2021? If so, are you interested in new penny hemp stock companies? Or, looking for the best Canadian cannabis stocks to invest in? Maybe, you’re looking to leverage the power of algorithmic stock trading to beat the cannabis market? We can help.
Are you interested in cannabis stocks like Curaleaf, Trulieve, Aurora Cannabis, Charlotte’s Web, Canopy Growth, or Hemp Inc.?
Predict price movements of cannabis stocks several hours in advance with our proprietary algorithmic stock trading software.
- +34% Gains in 2022
- +56% Gains in 2021
- +30% Gains in 2020
- +49.8% Gains in 2019
- Backtested since 2012
In fact, we’re so confident you’ll love our algotrading cannabis stock signals, we’re willing to give you a one week risk-free trial to see it for yourself.
Profit from the best cannabis stocks – we’ll show you how at cannin.com.
