Schumer Says Congress is Very Close to Passing Cannabis Banking and Expungements Bill after Work with a Bunch of Republicans!! MSOS

Submitted by Fuego1050 t3_yifjmm in wallstreetbets

https://www.marijuanamoment.net/schumer-says-congress-is-very-close-to-passing-marijuana-banking-and-expungements-bill-after-work-with-a-bunch-of-republicans/

Senate Majority Leader Chuck Schumer (D-NY) says Congress is getting “very close” to introducing and passing a marijuana bill with provisions covering banking access for legal businesses and expungements of past convictions, citing progress he’s made in discussions with a “bunch of Republican senators.”

During a debate with his Republican reelection opponent Joe Pinion on Sunday, Schumer was asked about a separate broader cannabis legalization bill he filed this year and whether he felt it would make more sense to first promote more research into marijuana before ending prohibition.

While the top senator said that research is “very, very important,” he pointed out that “many states have approved legalization of cannabis,” and so the policy is already “upon us.”

Largely catalytic for TRULIEVE, VERANO, GREEN-THUMB, CRESCO LAB, CURALEAF - constituents of MSOS ETF

Position: Trulieve 40k@19Cad

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VisualMod t1_iuicss7 wrote

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>TL;DR: 1. Congress is close to passing a bill that would allow marijuana businesses to access banking services and expunge past convictions.

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VisualMod t1_iuictmp wrote

>It is my opinion that the passage of a marijuana bill with provisions for banking access and expungements would be positive for companies like Trulieve, Verano, Green-Thumb and Cresco Lab. These companies are all involved in the legal cannabis industry, and thus would benefit from having greater access to banking services and being able to clear past convictions from their records. This would help them operate more smoothly and perhaps even expand their businesses. Thus, I believe this news is bullish for these stocks.

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jimbobcooter101 t1_iuiffum wrote

So... buy POT stocks again?
Got unloaded a ACB bag so thanks Schimer!

5

Modsarenotgay t1_iuikx6x wrote

Fantastic news!

Now Weedstock bagholders will only be down 75% instead of 80%!

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mn_03 t1_iuiq5k6 wrote

Maybe the 50th time he’s announced this in the last 2 years will be the ticket

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luckytrade313 t1_iuivto4 wrote

you can still get it cheaper from your locale grower , shop localeimg, no banking needed

1

tikichik t1_iuiyk5k wrote

He is just trying to hold on with more empty promises. 🙄

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Fuego1050 OP t1_iujga3f wrote

Replying to Horror-Lemon3200 (#399,588)

Nothing to fall for - its a bipartisan issue, thats a safety problem - everyone is on-board now and no reason to doubt it will pass.

All those conservative states passing medical cannabis is another sign that this passing is inevitable.

Up-listing and re-rating follows for USA MSOs tcnnf and grbif

1

NasahLife t1_iujgrqr wrote

Once the banking laws are passed that will clear the way for legalization and at least a short bull run for cannabis stocks.

Although Schumer is probably gaslighting the Electorate to get votes

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unpeelingpeelable t1_iujwk2j wrote

Who gives a damn about the weed, stop that unrealized gains tax nonsense.

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Transplantdude t1_iujyewk wrote

Pandering for votes just ONE more time. This fuck wouldn’t know truth if it hit him in the nose!

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TParkes97 t1_iujzc97 wrote

4 beautiful little letters... S N D L. Shit loads of cash on hand, made smart acquisitions and already loaning money out to Canada based MJ companies. Pass this USA banking bill, and allow SNDL to pump money into the USA MJ companies. This is just further profitability from interest rates. Winning!

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firekid8301 t1_iujzvbc wrote

How many times have we seen this headline

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Jenos00 t1_iuk7u1r wrote

If they just removed it from the drug schedule it wouldn't need a special banking law.

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Fuego1050 OP t1_iuk8hrc wrote

Replying to Jenos00 (#413,137)

Yup - thats another catalyst which could drop in the next few months - safe is just a more near term bill to address some safety issues - with the plus of allowing banking custody and up-listing for equities

1