Cannabis stocks are mostly down today despite some positive legislative news. Indeed, according to Marijuana Moment, bipartisan discussions are underway in Congress to potentially merge cryptocurrency regulation with the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which aims to allow banking for the marijuana industry.
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Senate Majority Leader Chuck Schumer (D-NY) said he was committed to advancing the cannabis banking bill as part of a broader legislative agenda. He also urged bipartisan support and public backing through a petition.
Separately, House Majority Whip Tom Emmer (R-MN) noted that he would like to see progress with the banking bill and said that the delay in federal action is unwarranted. Ongoing bipartisan talks suggest that a final agreement could be reached soon and might be passed within the year.
Which Cannabis Stock Is Best to Invest In?
Among the popular weed stocks, analysts expect Trulieve stock to deliver the most gains from current levels. Indeed, it has a Strong Buy rating with almost 49% upside potential based on a $16.46 per share price target.
