TILRAY (TLRY) NEW YORK APPROVES MARIJUANA BILL FOR RECREATIONAL USE
Jonathan M Block (SA News)
The New York State Senate Tuesday evening approved a bill that would legalize marijuana for recreational use by a vote of 40-23.
The bill, the Marijuana and Taxation Act, is expected to easily pass the State Assembly.
Although Gov. Andrew Cuomo (Dem.) has said he will sign the legislation and cannabis legalization would then become legal immediately, marijuana sales in stores would take 18 months to two years to start, according to State Assembly Majority Leader Crystal Peoples-Stokes.
Cuomo's office has said that once fully implemented, marijuana legalization is expected to rake in $350M annually in tax revenue.
U.S. multi-state operators today: Curaleaf Holdings (OTCPK:CURLF) -3.6%; MedMen Enterprises (OTCQB:MMNFF) -0.6%; Acreage Holdings (OTCQX:ACRHF) -0.1%; Harvest Health & Recreation (OTCQX:HRVSF) +0.8%; Cresco Labs (OTCQX:CRLBF) -5.2%; Green Thumb Industries (OTCQX:GTBIF) -11.8%; Trulieve Cannabis (OTCQX:TCNNF) -5.9%.
Canadian cannabis players today: Aurora Cannabis (NYSE:ACB) unchanged; Canopy Growth (NYSE:CGC) +1.7%; Aphria (NASDAQ:APHA) +3.9%; Cronos (NASDAQ:CRON) +1.5%; Tilray (NASDAQ:TLRY) +1.9%; OrganiGram Holdings (NASDAQ:OGI) +3%; HEXO Corp. (NYSE:HEXO) +1.9%; Sundial Growers (NASDAQ:SNDL) +1.8%.
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