SEVERE WX: Frost Advisory - Freeze Warning - Red Flag Warning View Alerts

Marijuana Investors Skittish after Sessions' Shot at Pot

Meanwhile, some defiant growers and retailers vowed to push ahead with the fledgling industry.

Posted: Jan. 4, 2018 5:46 PM
Updated: Jan. 4, 2018 5:47 PM

SAN FRANCISCO (AP) - Stocks related to marijuana are plummeting and cannabis boosters are fretting about the industry's future after U.S. Attorney General Jeff Sessions signaled a tougher approach to federal pot enforcement.

The plunging stock prices Thursday reversed a weeks-long rally driven by optimism after California launched recreational sales of pot on Monday.

Several marijuana stocks saw double-digit declines in the hours after Sessions' announcement, including the largest pot-producing company that is publicly traded.

A Nevada state lawmaker said he was concerned Sessions' action could snuff out the budding industry in that state, which began recreational sales in July.

Meanwhile, some defiant growers and retailers vowed to push ahead with the fledgling industry.

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 This material may not be published, broadcast, rewritten or redistributed.)

Article Comments

Medford
Clear
79° wxIcon
Hi: 80° Lo: 41°
Feels Like: 79°
Brookings
Clear
65° wxIcon
Hi: 67° Lo: 47°
Feels Like: 65°
Crater Lake
Clear
69° wxIcon
Hi: 71° Lo: 33°
Feels Like: 69°
Grants Pass
Clear
81° wxIcon
Hi: 76° Lo: 52°
Feels Like: 81°
Klamath Falls
Clear
69° wxIcon
Hi: 70° Lo: 31°
Feels Like: 69°
Frosty Start, Very Warm Wednesday
KDRV Radar
KDRV Fire Danger
KDRV Weather Cam

Community Events