The CLIMB Act May Help Marijuana Stocks Trade Better
Jun 27, 2022 (Marijuana Stocks via COMTEX) —
The CLIMB Act Could Be What Marijuana Stocks And The Cannabis Industry Need
At times marijuana stocks tend to react to news regarding the cannabis industry. For example, when a company releases progressive news or reports positive earnings it can have a positive impact on how marijuana stocks perform. Now in light of the continued effort to enact federal cannabis reform a new bill is in the works which would be beneficial to cannabis stocks. This past week Rep. Troy A. Carter, Sr., and Rep. Guy Reschenthaler introduced a new bill called The Capital Lending and Investment for Marijuana Businesses (CLIMB) Act. This new bill aims to provide a safe harbor for national securities exchanges.
Specifically, the New York Stock Exchange, Nasdaq, and other securities market participants list state-legal cannabis operators. Particularly the cannabis companies that currently cannot list in the United States. The CLIMB Act could be a bridge that helps things like the SAFE Act as well as finally ending cannabis prohibition. As well this new bill could add some help to the hardships the sector has been facing. With the non-existent help to proper funding compared to other legal businesses the CLIMB Act could be the answer.
The executive director of the national cannabis roundtable Saphira Galoob shed some light on the matter. She said…