Posted on 01/04/2018 8:28:10 AM PST by AngelesCrestHighway
A strong rally in cannabis-related stocks this week to mark the start of sales of recreational marijuana in California came to a screeching halt Thursday, on a report that the Justice Department is about to throw a spanner in the works for the nascent weed industry.
U.S. Attorney General Jeff Sessions, a longtime marijuana opponent, is expected to rescind an Obama-era policy that gave protections to states that have legalized marijuana as long as they abide by a series of guidelines, the Associated Press reported, citing unnamed sources. An announcement that will scrap what is known as the Cole Memo is expected later Thursday, said the AP.
The news sent cannabis stocks sharply lower, with Nevada-based Cannabis Sativa Inc. CBDS, -28.95% sliding 22%. The company is involved in the research, development and licensing of marijuana products. Colorado-based cannabis farmer GrowGeneration Corp. GRWG, -24.71% slid 21%.
Many of the listed cannabis companies in North America are based in Canada, which is gearing up to fully legalize marijuana later this year. Those stocks were caught up in the downdraft, with Toronto-based medical marijuana distributor Supreme Cannabis Co. Inc. SPRWF, -15.90% down 9.8%, while Ontario-based rival Canopy Growth Corp. WEED, -15.71% slid 9.6%.
(Excerpt) Read more at marketwatch.com ...
Sessions overlooks Clinton Crime Family, FBI/DOJ corruption, and crooked Swamp Critters. Returns to War on Hippies.
Trump needs to fire this guy.
In my opinion, sort of.
No state can make a foreigner a US citizen or change any Federal requirements limiting certain rights or benefits to citizens.
But states are in charge of their own law enforcement, and they are perfectly within their powers to (foolishly)refuse cooperation with Federal law enforcement, up to the point that they begin to violate (constitutional) Federal laws themselves.
So, they can keep information about their detainees and prisoners from the Feds. They cannot physically detain or obstruct Federal immigration authorities from carrying out their work.
This article is about common dispensaries and their stock dropping.
Medical pot was by prescription and not one of these new pot companies whose stock is so affected.
Medical pot was by prescription and not one of these new pot companies whose stock is so affected.
No, it is about stocks regarding the entire industry - not just dispensaries - as explained in the article.
Just when I thought nothing was going to get Millenials off the couch to go vote for Democrats this Fall....
“In December 2014, however, the Rohrabacher–Farr amendment was signed into law, prohibiting the Justice Department from prosecuting individuals acting in accordance with state medical cannabis laws.[126]”
https://en.m.wikipedia.org/wiki/Medical_cannabis
Medical use will still be allowed.
Perhaps things aren’t actually going to change much.
http://kdvr.com/2018/01/04/u-s-attorney-for-colorado-status-quo-on-marijuana-prosecutions/
This is due to a legal decision that violates the tenets of law that a court has no jurisdiction if no harm is shown from actual incidents presented in evidence. In ruling that cannabis is a Sched. I drug, the court claimed ‘jurisdiction’ because ‘it may be carried across a state line’, thereby invoking the interstate commerce interest of the Constitution.
Good.
Potheads don’t get off the couch. No worries.
Exactly the way I feel about the subject.
As long as these recreational druggies can legally drive they can stay off our streets, roads and freeways.
Many years ago there was a serious video driving test by (at the time) serious science TV channel like Science Channel or the Learning Channel;, May have even been Scientific American. I have searched for the one-hour program without success.
The participants were volunteers who all were SURE that their driving was unaffected by pot use. All ages and occupations, but also all were certain that their driving was unaffected.
Without exception, ALL participants candidly agreed that their after smoking a joint driving was compromised and not proud of their performance.
All aspects of driving were tested on a specially built track with traffic signals, emergency stops etc.
A simple reading of the Constitution would give you your answer. Fedgov was delegated power over borders and immigration, so sanctuary states and cities are not allowed.
Fedgov was not delegated power to regulate intrastate pot, so states are within their rightful powers to do so.
Why do you take a leak on the Tenth Amendment?
Don't worry, they'll rally back after the Democrats retake congress later this year and the White House two years after that.
See people, this is how we lose MAGA.
Buying opportunity.
I don’t smoke and never have done pot, but I have recently invested a small amount into pot stocks.
Its going legal and I plan to make some legal money on it.
Wildwood Weed. Loved that song. Funny story, when we moved to MS when I was 12, that song was a big hit. The funny part was the road we lived on was Wildwood Road and it turned out a lot of pot was grown there by locals till it was developed for housing.
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