A resolution passed by the New Hampshire House of Representatives to set up state-run cannabis sales in the Granite State was nixed by the Senate on Thursday as one of two bills that failed to pass the chamber, according to as report by Marijuana Moment. The cannabis sales bill as proposed by Rep. Daryl Abbas (R) lost by a voice vote. The other measure to allow home cultivation for adults as written by Carol McGuire lost by a Senate vote of nine to 15. The bill had won an approval from the Senate Judiciary Committee, which marked the first time such a measure made it through a panel. Opponents complained that legal cannabis would worsen road safety and would also send a wrong message to children. Proponents said New Hampshire is becoming an island in the region surrounded by states that are allowing adult use including New York, Vermont and Massachusetts. The AdvisorShares Pure US Cannabis ETF is down 37.2% so far this year.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.