CNAB - The Memo That Chilled The Market
A one-page memo by Attorney General Jeff Sessions sent a chilling wave of uncertainty across legal marijuana industry on Thursday. Sessions provided new guidance regarding enforcement of marijuana laws and rescinded previous guidance by the Justice Department during former president Obama's term. This sent U.S. cannabis stocks plunging by around 30% across the board on that day (up to 40% intra-day) - a painful loss for many investors. The Canadian space dropped 10% on that day.
The Sessions' memo was widely interpreted by the media as reversing the Obama's DOJ policies not to interfere with