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Cannabis Stocks Rally on Flurry of Federal Moves Toward Legalization



Legal cannabis marijuana
(AP File Photo/Richard Vogel)
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Lawmakers taking fresh steps toward federal legalization of cannabis are sparking a rally in cannabis stocks.

The House is soon expected to vote for the second time on the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act that would legalize cannabis. Separately, the Senate last week passed legislation to expand scientific and medical research on cannabis and its compounds.

On Friday, shares of both Canadian and American-based cannabis companies rose.

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