'Schumer Is 'Confident' Marijuana Banking Bill Will Pass This Session, According To Cannabis Entrepreneur Who Spoke To Majority Leader' - Marijuana Moment
Portfolio Pulse from Happy Mohamed
Senate Majority Leader Chuck Schumer is confident that the Secure and Fair Enforcement (SAFE) Banking Act, a bipartisan marijuana banking bill, will pass this session. The bill aims to free up banks and credit unions to work with state-licensed cannabis businesses. Schumer believes there is enough Republican support in the Senate to move the bill to the House.
June 21, 2023 | 2:30 pm
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POSITIVE IMPACT
The SAFE Banking Act's potential passage could positively impact Aurora Cannabis by allowing banks to work with state-licensed cannabis businesses.
The SAFE Banking Act would allow banks and credit unions to work with state-licensed cannabis businesses, which could lead to increased financial support and stability for companies like Aurora Cannabis. This would likely have a positive impact on their stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The potential passage of the SAFE Banking Act could positively impact Canopy Growth Corporation by allowing banks to work with state-licensed cannabis businesses.
The SAFE Banking Act would allow banks and credit unions to work with state-licensed cannabis businesses, which could lead to increased financial support and stability for companies like Canopy Growth Corporation. This would likely have a positive impact on their stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The potential passage of the SAFE Banking Act could positively impact Cronos Group by allowing banks to work with state-licensed cannabis businesses.
The SAFE Banking Act would allow banks and credit unions to work with state-licensed cannabis businesses, which could lead to increased financial support and stability for companies like Cronos Group. This would likely have a positive impact on their stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The potential passage of the SAFE Banking Act could positively impact Tilray by allowing banks to work with state-licensed cannabis businesses.
The SAFE Banking Act would allow banks and credit unions to work with state-licensed cannabis businesses, which could lead to increased financial support and stability for companies like Tilray. This would likely have a positive impact on their stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80