Cannabis stocks rally as U.S. lawmakers re-introduce SAFE Banking bill to open up financial system

A move in in both the U.S. House of Representatives and the Senate to re-introduce legislation to open up the financial system for cannabis companies has sparked a rally in beaten-down stocks in the sector on Thursday.

The legislation has passed the House seven times but has yet to win Senate approval. Analysts and lawmakers said the latest version may reach a vote in the Senate for the first time.

The…