These 9 U.S. Multi-State Operators Are Trading Higher Today After Yesterday’s SAFE Act House Vote
The cannabis industry in the United States made history yesterday taking a huge step forward after the U.S. The House of Representatives officially passed the SAFE Banking Act in a 321-103 vote. The SAFE Act was created to provide cannabis businesses with fair access to the U.S. banking system as well as protect the banks that serve them from any punishment. The cannabis banking bill sponsored by Rep. Ed Perlmutter (D-CO) became the first standalone cannabis reform bill to pass the House or Senate and is now on it’s way to the Republican-controlled Senate where it will face its stiffest test yet.
As cannabis investors, the logical question is how does this affect pot stocks? Which companies will benefit the most if the bill passes the Senate floor and ultimately gets signed into law by President Trump?
The answer to that question is simple, U.S. multi-state operators (MSO) that until now, have largely conducted business on a cash-only basis with limited access to normal banking services such as lines of credit or bank loans will likely be the biggest beneficiaries to the new banking legislation.
The market seems to agree as a handful of the top MSOs are trading higher today while the rest of the cannabis sector is yet again seeing red.
To simplify things for our readers, we’ve put together the following list of the U.S. cannabis stocks we believe will perform the best should the SAFE Act become law. As is normal, these stocks will likely move higher in anticipation of the bill passing the Senate. Keep an eye on websites such as MarijuanaMoment.com for breaking updates on the situation as positive or negative news in the lead up will have a direct impact on the market.
Here are our top choices for investors looking to capitalize on the pending approval of the U.S. SAFE Banking Act:
- RWB is going public soon via its merger with Tidal Royalty (CSE: RLTY.U) (OTC: TDRYF).
- Shares of Tidal’s CSE listing are currently halted pending merger. U.S. listed shares continue to trade.
- RWB has raised $125 million privately, boasts 9 figure revenues, is focused on profitability and will not have super-voting shares like some of its peers.
- RWB is currently waiting to receive notification of its inaugural trading date.
- Watch Video: RWB CEO Brad Rogers Investor Presentation and Benzinga sit down interview with Javier Hasse
- Sign up below to be alerted when RWB is set to commence trading.
Charts source: Barchart.com
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Disclaimer: The Cannabis Investor owns a position in RWB.