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Cannabis stocks rally after President Biden signs research bill and reports of SAFE Banking measure advancing


The AdvisorShares Pure U.S. Cannabis ETF

bucked a down trend in the broad equities market on Monday and rallied 7.8%. The surge came days after President Joe Biden signed legislation Friday to expand cannabis research. Reports have also surfaced in recent days that the SAFE Plus Banking measure to open up access to the financial system for cannabis companies may be passed by the end of the year. Among individual stocks, Curaleaf Holdings

rose 6%, Green Thumb Industries

advanced by 4.7%, Trulieve Cannabis Corp.

rose 8.3%, Cresco Labs Inc.

rose by 9% and Verano Holdings Corp.

rose 5.9%.

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