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Cannabis stocks rallied for a second day Wednesday, buoyed by a historic congressional committee passage of a bill that aims to lift the federal ban on weed, as well as strong gains for Curaleaf after it posted a narrower-than-expected third-quarter loss.

Curaleaf’s U.S.-listed shares CURLF, +15.23% CURA, +15.07% were last up 15%, as investors shrugged off its revenue miss.

The Massachusetts-based company posted a loss of $6.8 million, or a penny a share, versus losses of $33.7 million, or 9 cents a share in the year-ago period. Revenue rose to $61.8 million from $21.4 million. Analysts polled by FactSet had expected losses of 2 cents a share on revenue of $63.6 million.

To read more on Marketwatch:

https://www.marketwatch.com/story/cannabis-companies-rally-for-a-second-day-ahead-of-historic-vote-that-would-lift-federal-ban-on-weed-2019-11-20

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