What's Going On With Cannabis Stocks Wednesday?

Zinger Key Points
  • Some of the volatility in cannabis stocks could be due to executive commentary from the Benzinga conference.
  • Cannabis stocks may also be moving on reports Attorney General Merrick Garland was pressed about a bipartisan marijuana banking bill.

Several cannabis stocks are well off their lows for the day and trending higher Wednesday afternoon. Here’s a look at what’s going on.

What To Know: Wednesday marks the final day of Benzinga's Cannabis Capital Conference in Hollywood, Florida.

Multiple cannabis execs have already spoke at the conference including Curaleaf Hldgs Inc CURLF chairman Boris Jordan, Canopy Growth Corp CGC CEO David Klein and Trulieve Cannabis Corp TCNNF CEO Kim Rivers, among others. Check out this page for more information on speakers.

On Tuesday, cannabis stocks fell in early trading before rebounding and trending higher in the afternoon. Some of the upward momentum may have been a result of executive commentary from the Benzinga conference.

Check This Out: Ric Flair Will Visit California Dispensary On 4/20 For Debut Of His Cannabis Brand, But First Meet Him At The Benzinga Conference In Florida

Cannabis stocks may also be getting a lift on Wednesday following a Marijuana Moment report that Sen. Jack Reed (D-RI) on Wednesday pressed Attorney General Merrick Garland about a bipartisan marijuana banking bill during a hearing before the Senate Appropriations Subcommittee on Commerce, Justice, Science and Related Agencies.

“Section 10 of the original legislation would have compromised law enforcement and national security by requiring banks to notify customers when the government requested termination of an account. In essence, the original language meant that serious criminals could be tipped off that they are under investigation,” Reed reportedly said.

"Fortunately, through a bipartisan committee process, we worked to address major flaws in Section 10 and curbed its negative effects. Do you agree that such a policy would handcuff law enforcement and the intelligence community if the bank had to disclose that their account has been terminated by law enforcement?"

Here’s a look at the price action across the cannabis sector Wednesday afternoon:

  • Canopy Growth Corp CGC
  • Curaleaf Hldgs Inc CURLF
  • Trulieve Cannabis Corp TCNNF
  • Tilray Brands Inc TLRY
  • Green Thumb Industries Inc GTBIF
  • AdvisorShares Pure US Cannabis ETF MSOS
  • AdvisorShares Pure Cannabis ETF YOLO

Don’t Miss: Canopy Growth CEO At Benzinga Conference: ‘I Don’t Think Our Investors Understand The Value That Sits Inside Of Canopy’

Photo: 7raysmarketing from Pixabay.

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The Benzinga Cannabis Capital Conference is coming to Florida

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on bzcannabis.com – Prices will increase very soon!