The U.S. House of Representatives is planning to vote for the second time on the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act to legalize cannabis at the federal level next week, according to a Thursday article in Marijuana Moment. Cannabis stocks rose sharply in late trading, with Canopy Growth Corp up 12%, Trulieve up 4.7%, Aurora Cannabis advancing by 11% and Ayr Wellness ahead by 4.2%. The Cannabis ETF rose 6.2% and the AdvisorShares Pure US Cannabis ETF rose 1.1%. In after hours trades, Sundial Growers Inc. jumped 5% and Aleafia Health Inc. rallied 12%. House leaders have put the cannabis legislation on a list of bills they plan to take up on the House floor next week, the report said. The House passed the MORE Act in 2020 but it died in the Senate. Meanwhile, Senate Majority Leader Chuck Schumer, a New York Democrat, has said he plans to file the Cannabis Administration & Opportunity Act in April.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0