ETF Managers Group Cannabis Research and Banking Expert Jason Wilson in

Cannabis stocks, ETFs soar on MORE Act progress in US House

Investors looking to grow nice fat portfolios from legalised marijuana stocks in the US are going to be disapointed in the short term, industry experts warned. Despite a marijuana rescheduling bill reaching a key milestone, the chances of it being signed into law are unlikely.

Still, the leading cannabis stocks tracked by traders saw double-digit gains Friday, after the US House of Representatives scheduled a vote on H.R. 3617, or the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act, for next week. In addition to the MORE Act, the medicinal-use Cannabidiol and Marihuana Research Expansion Act was passed by the US Senate.

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