SEVERE WX : Winter Weather Advisory View Alerts

Marijuana-Related Stocks Plummet

Several marijuana stocks saw double-digit declines hours after Jeff Sessions announced federal pot policy changes.

Posted: Jan. 5, 2018 3:46 AM

SAN FRANCISCO (AP) - Marijuana-related stocks plummeted, cannabis boosters worried about the industry's future and defiant growers and sellers vowed to keep operating after U.S. Attorney General Jeff Sessions signaled a tougher approach Thursday to federal pot enforcement.


The plunging stock prices reversed a weeks-long rally driven by optimism for legal recreational sales that started Monday in California. Several marijuana stocks saw double-digit losses in the hours after Sessions' announcement, including the largest pot-producing company that is publicly traded.

Canopy Growth, a Canada-based company with the ticker symbol WEED, lost $3.58 a share, or 10 percent, to close at $32.32 on the Toronto Stock Exchange.

Shares of garden-supply company Scotts Miracle-Gro also skidded Thursday, following a steady rise last year after it added fertilizer, lights and other products to serve marijuana growers. The company's share price fell by as much as 7 percent before closing down 2.3 percent.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Article Comments

Medford
Overcast
49° wxIcon
Hi: 67° Lo: 46°
Feels Like: 47°
Brookings
Overcast
50° wxIcon
Hi: 57° Lo: 48°
Feels Like: 50°
Crater Lake
Scattered Clouds
39° wxIcon
Hi: 54° Lo: 37°
Feels Like: 39°
Grants Pass
Overcast
50° wxIcon
Hi: 66° Lo: 47°
Feels Like: 50°
Klamath Falls
Scattered Clouds
39° wxIcon
Hi: 58° Lo: 37°
Feels Like: 39°
Rain & Snow Returning Tonight
KDRV Radar
KDRV Fire Danger
KDRV Weather Cam

Community Events

Latest Video

Image

Central Point School District 6 hopes votes pass school bond

Image

Danny Miles Selected to Small College Basketball Hall of Fame

Image

SOU, OIT arrive in Springfield for NAIA Softball World Series

Image

SOU in Studio: Raiders reflect on reaching World Series

Image

Monday, May 20th Evening Weather

Image

Restaurants could be banned from using styrofoam

Image

Daily J! - Ex-Presidents

Image

Pet of the Week: Smoky Bear

Image

Monday, May 20 afternoon weather

Image

Happy Camp woman hero