Cannabis stocks… US federal legalisation…
The average US-listed cannabis stock is down by more than a third since the start of 2021, compared with 20 per cent for the S&P 500, while the Canadian cannabis index is down roughly 50 per cent over the same period.
…marijuana legislation has failed to gain support in the Senate, including the Safe and Fair Enforcement Banking Act. It would allow banks to give legal cannabis companies loans or other support without risking penalties at a federal level…. consider[ing] broader reform [as some] Senators withhold support, hopes of prompt legalisation across the US have waned, along with stock prices.
Original Article (Financial Times):
Cannabis stocks suffer as US federal legalisation stalls
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