Cannabis stocks extended recent gains to stage a rally towards the market close on Friday after President Joe Biden signed a marijuana research bill into law.
Notable gainers include Clever Leaves (CLVR), SNDL Inc. (SNDL), MedMen Enterprises (OTCQB:MMNFF), Canopy Growth Corporation (CGC), Tilray Brands (NASDAQ:TLRY), TerrAscend Corp. (OTCQX:TCNNF), OrganiGram Holdings (OGI), Aurora Cannabis (ACB), GrowGeneration (GRWG) and Cronos Group (CRON)
The bill named Medical Marijuana and Cannabidiol Research Expansion Act cleared the House in April and the Senate last month.
It establishes a new registration process for cannabis-related research and the production of marijuana for research and drug development.