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Why Canopy Growth Stock Is Glowing Green Today

TheMotleyFool 
0 0 18.04.24
Why Canopy Growth Stock Is Glowing Green TodayPhoto, wide shot, wide-angle lens, soft focus, Movie theater, sunset photo at golden hour, photo by Marc Adamus: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-gXhfb5xMEy8zG0qLmxYAOaHt.png?st=2023-05-14T13%3A29%3A06Z&se=2023-05-14T15%3A29%3A06Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-14T01%3A25%3A03Z&ske=2023-05-15T01%3A25%3A03Z&sks=b&skv=2021-08-06&sig=cyWAC06qXhBJ4kv4K4eQVNNwtdGGK962uEjAh4%2B61ZY%3D
 

Thursday is looking like a great day to own Canopy Growth (NASDAQ: CGC) stock -- and state legislators are to thank for it. Shares of the Canadian cannabis company are up a solid 20% on positive momentum for the passage of a SAFER law that would give marijuana businesses access to loans and other banking services.

As Marijuana Moment reports today, the National Conference of State Legislatures (NCSL) just sent a letter to Congress, urging passage of marijuana banking reform this year.

Current law discourages banks from extending loans to marijuana businesses or allowing them to open bank accounts. If passed, the Secure and Fair Enforcement Regulation (SAFER) Banking Act would change this.

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Source Fool.com

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