Shares of cannabis stocks are trading lower amid reported roadblocks over the SAFE Banking Act.
Portfolio Pulse from Benzinga Newsdesk
Cannabis stocks are trading lower due to reported roadblocks over the SAFE Banking Act. This includes Aurora Cannabis (ACB), Cronos Group (CRON), GrowGeneration Corp (GRWG), Sundial Growers (SNDL), and Tilray (TLRY).
July 14, 2023 | 6:43 pm
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NEGATIVE IMPACT
Aurora Cannabis (ACB) stock is trading lower due to reported roadblocks over the SAFE Banking Act.
The SAFE Banking Act is crucial for cannabis companies as it would allow them to access banking services. Roadblocks in its implementation could negatively impact the operations and profitability of Aurora Cannabis, leading to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Cronos Group (CRON) stock is trading lower due to reported roadblocks over the SAFE Banking Act.
The SAFE Banking Act is crucial for cannabis companies as it would allow them to access banking services. Roadblocks in its implementation could negatively impact the operations and profitability of Cronos Group, leading to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
GrowGeneration Corp (GRWG) stock is trading lower due to reported roadblocks over the SAFE Banking Act.
The SAFE Banking Act is crucial for cannabis companies as it would allow them to access banking services. Roadblocks in its implementation could negatively impact the operations and profitability of GrowGeneration Corp, leading to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Sundial Growers (SNDL) stock is trading lower due to reported roadblocks over the SAFE Banking Act.
The SAFE Banking Act is crucial for cannabis companies as it would allow them to access banking services. Roadblocks in its implementation could negatively impact the operations and profitability of Sundial Growers, leading to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tilray (TLRY) stock is trading lower due to reported roadblocks over the SAFE Banking Act.
The SAFE Banking Act is crucial for cannabis companies as it would allow them to access banking services. Roadblocks in its implementation could negatively impact the operations and profitability of Tilray, leading to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100