Weed firms fall as GOP Senator snubs Schumer's letter mentioning cannabis banking bill

Cronos

12/07/2023 18:24

** Weed firms fall after Republican Senator John Cornyn says
Majority Leader Chuck Schumer’s plan to pass Marijuana banking
bill is "wishful thinking"
    ** “Senator Schumer mentioned his desire to move forward on
bills relating to drug pricing, fentanyl, permitting reform,
rail safety, marijuana banking, China competition, artificial
intelligence and a number of other topics in the next three
weeks,” said Coryn in an address to the U.S. Congress
    ** “But it is only wishful thinking to believe that in the
U.S. Senate you are going to be able to get all of these
necessary items addressed in the next ten working days,” Cornyn
added
    ** Cronos Group  CRON.TO , Tilray Brands  TLRY.TO , Curaleaf
Holdings  CURA.CD , Cresco Labs  CL.CD , Aurora Cannabis
 ACB.TO , Green Thumb Industries  GTII.CD  and Trulieve Cannabis
 TRUL.CD  fall 1%-8.5%
    ** AdvisorShares Pure US Cannabis ETF  MSOS.K  also down
4.5%
    ** Marijuana companies gained on Tuesday after Schumer's
letter highlighted passing of cannabis banking bill as a
priority for upcoming session

 (Reporting by Tanay Dhumal in Bengaluru)
 ((Tanay.Dhumal@thomsonreuters.com; 
Twitter: https://twitter.com/TanayDhumal))