Cannabis stocks rise as SAFE Banking measure gets potential hearing with Senate committee

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Cannabis stocks moved up sharply on Thursday on remarks by a U.S. senator about a potential committee hearing on the Secure and Fair Enforcement (SAFE) Banking Act.

Sherrod Brown, the Ohio Democrat who chairs the Senate Banking Committee, told NBC News the panel would hold a hearing on the SAFE Banking Act as early as May 11 as part of an effort to “move quickly” toward a vote on the measure, which would open up the financial system to legal U.S. cannabis companies.

While…

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