Senator Murray from WA thinks she has found a sound path to allowing cannabis stores to participate in traditional banking and process electronic payments, for states that have legalized marijuana. You can read the details in this article, but in a nutshell, she plans to use the negotiation process between two similar bills (one each from the House and Senate) to ensure inclusion of this high priority issue; and thinks that it could end up in front of the president in a little over a month.
It seems to me that this has a decent chance of getting included, especially since she is emphasizing crime & safety issues, rather than simply the profit angle for pot businesses.
I was thinking it might be time to invest in some cannabis stocks, but figured it couldn't hurt to ask for other opinions about the likelihood of this kind of news boosting related stocks, and to inquire what symbols might be the most likely to be positively impacted. For example, would a Canadian based cannabis company still benefit from this change?
Thoughts?
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