Cannabis stockpiles met Wednesday in the premature trade, with hopes that Democrats could take over the Senate after Raphael Warnock won one of two Senate qualifiers in Georgia early Wednesday, according to the Associated Press, which brought Democrats closer to seats in the Senate majority. With 97% of the total expected vote, challenger Democrat Jon Ossoff led Republican Sen. David Perdue by just 0.22 percentage points, according to data added by the Associated Press. Democrats are expected to continue a cannabis reform agenda under President-elect Joe Biden and Vice President-elect Kamala Harris, who have given more support to opening up the banking sector and other services needed by the industry. it has been hampered by the complicated backdrop regulation that has allowed the black market to continue to flourish. “Let’s move on to speculating what President-elect Biden could have done for cannabis reform through the executive order (or by directives /“ memoirs ”of his attorney general) and whether the Senate would have held a vote on the SAFE law (banking reform ) would have even led to a vote on a new world, in which the issue is more about the timing and scope of a much broader reform for the cannabis industry, “wrote Singer Fitzgerald analyst Pablo Zuanic on a note to customers. The ETFMG Alternative Harvest ETF MJ,
increased approximately 7% before the market, while the THCX Cannabis ETF,
rose 1.1%. Among the individual shares, the U.S. listed shares of Aurora Cannabis Inc. ACB,
ACB,
the most dominated shares in the Robinhood trading app increased 15%. Tilray Inc. TLRY,
increased 15.4%, Canopy Growth Corp.s CGC,
[c: ca:weed] increased 8% and Cronos Group Inc. CRON,
rose 10%. The Cannabis ETF has gained 63% in the last three months, while the S&P 500 SPX,
has gained 11%.