Trulieve Cannabis Corp (TCNNF)

[cabos_tacos]

Not a good , not good at all

By Steve Gelsi

TD takes cautious approach after failure of SAFE Banking measure in Congress last year

Cowen analyst Vivien Azur is dropping coverage of seven cannabis stocks as part of the $1.3 billion acquisition of the investment bank by Canadian financial-services conglomerate Toronto-Dominion Bank.

The move stems from TD's (TD.T) cautious approach to U.S. cannabis following the failure of the SAFE Banking measure in Congress last year.

"Cowen has been a leader for in-depth, actionable research across equity markets, including emerging growth sectors like cannabis," a spokesman for the bank told MarketWatch in an email. "Post Cowen's acquisition by TD, we are no longer covering securities relating to U.S. multi-state-operators in the cannabis sector but would reevaluate if the SAFE Act is passed or federal regulatory posture changes."

TD's acquisition of Cowen Inc. is closing on Wednesday. It was initially announced on August 2.

The names no longer receiving coverage are: Acreage Holdings Inc. , Columbia Care Inc. , Cresco Labs , Curaleaf Holdings Inc. , Green Thumb Industries Inc. , TerrAscend Corp. and Trulieve Cannabis Corp. .