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Several cannabis stocks are well off their lows for the day and trending higher Wednesday afternoon. Here’s a look at what’s going on.
What To Know: Wednesday marks the final day of Benzinga's Cannabis Capital Conference in Hollywood, Florida.
Multiple cannabis execs have already spoke at the conference including Curaleaf Hldgs Inc (OTCQX:CURLF) chairman Boris Jordan, Canopy Growth Corp (NASDAQ:CGC) CEO David Klein and Trulieve Cannabis Corp (OTCQX:TCNNF) CEO Kim Rivers, among others. Check out this page for more information on speakers.
On Tuesday, cannabis stocks fell in early trading before rebounding and trending higher in the afternoon. Some of the upward momentum may have been a result of executive commentary from the Benzinga conference.
Check This Out: Ric Flair Will Visit California Dispensary On 4/20 For Debut Of His Cannabis Brand, But First Meet Him At The Benzinga Conference In Florida
Cannabis stocks may also be getting a lift on Wednesday following a Marijuana Moment report that Sen. Jack Reed (D-RI) on Wednesday pressed Attorney General Merrick Garland about a bipartisan marijuana banking bill during a hearing before the Senate Appropriations Subcommittee on Commerce, Justice, Science and Related Agencies.
“Section 10 of the original legislation would have compromised law enforcement and national security by requiring banks to notify customers when the government requested termination of an account. In essence, the original language meant that serious criminals could be tipped off that they are under investigation,” Reed reportedly said.
"Fortunately, through a bipartisan committee process, we worked to address major flaws in Section 10 and curbed its negative effects. Do you agree that such a policy would handcuff law enforcement and the intelligence community if the bank had to disclose that their account has been terminated by law enforcement?"
Here’s a look at the price action across the cannabis sector Wednesday afternoon:
Photo: 7raysmarketing from Pixabay.
