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Data: Investing.com; Chart: Axios Visuals

Marijuana advocates scored a big win Thursday with the passage of the SAFE Act through the U.S. House of Representatives, but the market was less enthusiastic.

What it means: The Secure and Fair Enforcement Banking Act would allow marijuana companies to more easily do business with federally insured banks in the U.S.

What happened: Marijuana stocks initially soared in after-hours trading Wednesday, with Aurora Cannabis gaining more than 5% and Canopy Growth jumping 4%, but those gains were short-lived.

  • Canopy Growth's stock rose a paltry 0.42% on Thursday, while Aurora Cannabis' stock fell 0.24%, as the bill's fate in the Senate and a signature from President Trump looked uncertain.

The big picture: Matt Hawkins, managing principal at Cresco Capital Partners, told Fortune yesterday he expects to see a “heavy influx” of cannabis-related IPO registrations on the Nasdaq and NYSE because the bill would further solidify the viability of the U.S. marijuana industry.

  • It raised nearly $13.8 billion in financing in 2018, according to industry advisory firm Viridian Capital Advisors, Fortune reported.
  • Most investments stemmed from legalization in Canada and legislative changes at the state level in the U.S., which gave investors more confidence in backing pot companies.

Reality check: Pot stocks are in need of some good news. It's been almost all downhill since March after a world-beating rally to start the year.

  • A popular marijuana industry ETF, ETFMG Alternative Harvest (MJ), is down more than 10% year to date and has fallen 30% this quarter.

Go deeper: Revenue from marijuana vaping products dips 15% amid health fears

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Justice Department sues Google over alleged search monopoly

Illustration: Lazaro Gamio/Axios

The Justice Department and 11 states Tuesday filed an antitrust lawsuit against Google, accusing the company of using anticompetitive tactics to illegally monopolize the online search and search advertising markets.

Why it matters: The long-awaited suit is Washington's first major blow against the tech giants that many on both the right and left argue have grown too large and powerful. Still, this is just step one in what could be a lengthy and messy court battle.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Americans feel Trump's sickness makes him harder to trustFlorida breaks record for in-person early voting.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots.
  4. World: Ireland moving back into lockdown — Argentina becomes 5th country to report 5 million infections.

In photos: Florida breaks record for in-person early voting

Voters wait in line at John F. Kennedy Public Library in Hialeah, Florida on Oct. 19. Photo: Eva Marie Uzcategui/AFP via Getty Images

More Floridians cast early ballots for the 2020 election on Monday than in the first day of in-person early voting in 2016, shattering the previous record by over 50,000 votes, Politico reports.

The big picture: Voters have already cast over 31 million ballots in early voting states as of Tuesday, per the U.S. Elections Project database by Michael McDonald, an elections expert at the University of Florida.