Cannabis Stocks Extend Surge
04 February 2021 - 2:53AM
Dow Jones News
By Amrith Ramkumar
Cannabis producers like Tilray are extending a recent surge
(https://www.wsj.com/articles/cannabis-companies-are-ready-to-roll-11611572793)
as traders anticipate full federal marijuana legalization will
boost the sector.
Tilray is up 15%, bringing its three-day climb to nearly 50%,
while the Cannabis ETF adds 8.3%.
On Tuesday, three Democratic senators led by Majority Leader
Chuck Schumer released a statement
(https://www.finance.senate.gov/ranking-members-news/-booker-wyden-schumer-joint-statement-on-cannabis-reform-legislation?utmmedium=email&utmsource=newsletter&utmcampaign=MJD20210201NewsDaily)
saying they hope to end the country's federal marijuana prohibition
laws and enact other reforms.
The House of Representatives voted to decriminalize
(https://www.wsj.com/articles/house-passes-bill-decriminalizing-marijuana-at-federal-level-11607107693)
marijuana at the federal level late last year, the first
legislation of its kind to get a vote in the chamber, but the bill
didn't move forward.
Cannabis stocks have risen in recent weeks with traders
anticipating President Biden to pursue reform in this area.
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(END) Dow Jones Newswires
February 03, 2021 10:38 ET (15:38 GMT)
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