Tilray Brands Inc (TLRY)

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Folks should read this

What does the failure to pass the SAFE Banking Act mean for cannabis stocks in 2023?

The failure of the SAFE Banking Act to pass the Senate isn’t good news for cannabis stocks. The lack of access to traditional banking services is going to continue to be a drag on the pace at which they can grow and expand their businesses.

The failure to pass the act also means that cannabis companies continue to face the risks and costs of operating as a cash-only business, which can lead to increased security concerns and difficulties in tracking income and expenses, as well as legal issues related to money laundering and tax evasion.

For investors, this is a hurdle that makes some understandably nervous to invest in cannabis stocks. Until this issue is sorted, there’s going to be a cap on how much companies in the vertical are able to grow, and therefore how much the stock prices are able to increase.