Why Sundial Growers Stock Surged Today

Shares of Sundial Growers (NASDAQ: SNDL) jumped 11% Monday as potentially game-changing marijuana legislation took an important step forward. 

The U.S. House of Representatives voted in favor of passing the Secure and Fair Enforcement (SAFE) Banking Act. The bill seeks to allow banks and other financial service providers to legally serve cannabis companies. Many banks have declined to work with even state-licensed marijuana producers for fear of running afoul of federal law.

Sundial Growers and other marijuana stocks rallied Monday. Image source: Getty Images.

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Source Fool.com