Nov 21 (Reuters) - Shares of marijuana corporations rose on Thursday after a U.S. congressional com
Nov 21 (Reuters) – Shares of marijuana corporations rose on Thursday after a U.S. congressional committee handed a laws to decriminalize hashish, taking it a step nearer to being accredited by the Democratic-controlled Home of Representatives.
The invoice, which was handed 24 to 10 within the Home Judiciary Committee on Wednesday, despatched shares of Cover Progress WEED.TO, Aurora Hashish ACB.TO, Aphria Inc APHA.TO and Tilray Inc TLRY.O up between 8% and 15%.
“We expect federal legalization could be a giant constructive for investor sentiment surrounding hashish equities, which have been battered by oversupply and a steep worth decline for the underlying commodity since turning into authorized in Canada,” stated Garrett Nelson, senior fairness analyst at CFRA Analysis.
The approval comes two months after the Home handed a invoice to advance laws that will permit banks to supply providers to hashish corporations in states the place it’s authorized.
The newest invoice, which has greater than 50 co-sponsors, allows…