In this Marijuana Market Update, I talk about new developments in Washington surrounding the MORE Act and how it affects cannabis stocks.
I also give you the top five stocks in our Cannabis Power Ratings universe.
MORE Act Buoys Cannabis Market
Last week, the U.S. House of Representatives unveiled an overview of the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act.
The MORE Act aims to decriminalize marijuana on the federal level by removing it from a list of controlled substances under the Controlled Substances Act. It also removes criminal penalties for individuals who grow, sell or possess marijuana.
It also opens the door to allow the Small Business Administration to issue loans and services to legitimate cannabis-related businesses. And it eliminates barriers for cannabis businesses to receive financial services through traditional banking that was otherwise barred.
The release of the report from Congress last week had a profound effect on cannabis stocks.
The post MORE Act Update + Top 5 Cannabis Power Stocks appeared first on Money & Markets, LLC.