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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index lost a fraction to 39.80, while the CSE Composite Index added 1.25 to 293.69. South of the border, the week got off to a slow but anticipatory start, as cannabis reform advocates eye a potentially busy Congress. The coming days will bring a key Senate subcommittee hearing on cannabis decriminalization, and may also see floor action on a research bill that could become the first piece of cannabis-related legislation sent to the President.

The hearing, held by a criminal justice subcommittee and entitled "Decriminalizing Cannabis at the Federal Level: Necessary Steps to Address Past Harms," will begin tomorrow. This is less than a week after Senate Majority Leader Chuck Schumer filed his Cannabis Administration and Opportunity Act (CAOA). Analysts have no doubt that the CAOA will feature heavily in the hearing. "This is important," wrote the analysts at Jefferies in a new research note, "as it means debate around reform and what can potentially work and not work is beginning almost immediately." (In other words, the CAOA is too wide-ranging to be passable now, but a hearing could clarify areas of compromise or outright surrender.)

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