The Good, the Bad, and the Ugly Recent Marijuana Stock News

Marijuana Stock News
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Marijuana Stock News: What Went Right, What Went Wrong

Sometimes I feel like a broken record repeating the same thing every week, but I feel it can’t be said enough: If you’re a marijuana stock enthusiast, you need to be up to date on marijuana news. The drug is working its way—albeit slowly—towards mass acceptance in the U.S., both medically and for recreation. But that process is one that will ebb and flow, and following the news is a great way to try and predict the future of the pot industry. In this case, I’ve rounded up three bits of news that all may have a profound effect on the legalization process.

The Good Pot Stock News

The good news in pot stock is that illegal weed is bad. Very bad. Besides the obvious concerns about illegal weed—including funding gangs and the product being less safe overall due to a lack of oversight and regulatory organizations in the criminal world—there’s a new reason to hate on illegal weed production: pollution.

A recent story by Reuters highlighted the environmental toll that illegal pot is taking on the environment. One expert claims that the amount of pesticide and fertilizer released in California, if concentrated into a single stream, would exceed the amount of chemicals spilled in Elk River in West Virginia during a 2014 crisis, which left 300,000 residents without access to potable water. (Source: “Toxic waste from U.S. pot farms alarms experts,” Reuters, August 6, 2017.)

Obviously, this is extremely hazardous to the environment. On top of the environmental impact, the cost could run as high as $100,000 for clean-up and could end up costing the State of California $100.0 million, which is coming directly out of taxpayers’ pockets.

Now, medicinal weed is legal in California and so is recreational marijuana, but that hasn’t curtailed all of the bootlegging weed producers who use awful pesticides and chemicals, and can profit on the black weed market as well as by selling pot across state lines.

This is yet another reason why marijuana ought to be legalized, so that these types of disasters don’t happen. These types of stories are great ammunition for legal pot supporters, and go a long way towards moving the legalization process forward. And naturally, full U.S. marijuana legalization would be great marijuana stock news.

The Bad U.S. Full Marijuana Legalization News

U.S. Attorney General Jeff Sessions seems hellbent on using federal power to crack down on states that have legalized pot. The latest marijuana stock news revolves around a letter Sessions sent to a number of top Washington officials, criticizing the state’s legalization of marijuana. (Source: “U.S. Attorney General Sessions criticizes Washington state’s legal marijuana system,” The Seattle Times, August 6, 2017.)

Sessions is well known for his concerns around legal pot, and he is seen as a major roadblock to not only full marijuana legalization U.S., but also to states that have legalized the drug, as the federal government still has marijuana classified as illegal and could theoretically send in federal agents to crack down on dispensaries and growers.

The Ugly Marijuana News

The thing about Sessions is that his own task force, which he assigned to access the damage of legalized pot, came back and pretty much said that the Obama administration played it right. Which is to say, back off from the states and let the people decide. Of course, this was not the news that Sessions wanted or needed, so his attack on legal weed in Washington is all the more weak.

Not to mention that Washington officials claim that Sessions is using out-of-date information from 2016 that does not reflect the reality today.

In other words, it seems like Sessions has a vendetta against the drug that no amount of evidence to the contrary will prevent him from pursuing harsher regulations, which is obviously a bad thing for marijuana stocks.

On the plus side, Sessions has been the target of a spate of negative tweets from none other than President Donald Trump, meaning his days in D.C. could be numbered.

There’s my roundup of all the recent news that will affect full U.S. marijuana legalization and pot stocks going forward.