Pot Stocks, ETFs, Top News And Data From The Cannabis Industry – Benzinga

Two words summarize last week’s most relevant event for the cannabis industry: John Boehner. The former House speaker announced his views on cannabis had evolved and, in support of legalization, he was joining the board of directors of New York-based marijuana company Acreage Holdings.

To make things better, President Donald Trump struck a deal with Sen. Cory Gardner (R-CO). The Senator will end his blockade of Justice Department nominees; In exchange, Trump promised the federal government would not interfere with states’ rights to decide on their cannabis laws.

Related Link: Florida Rep. Carlos Smith On How His LGBTQ Identity Led Him To Cannabis, Gun Control Advocacy

“In more than five years of covering the sector, I have never seen a more important week than this one for the U.S. cannabis industry. While the markets were swift to react to the news that the federal government may implement a permanent solution that allows states to regulate cannabis production and consumption, this is likely to have a profound impact on the ability of both private and public companies to access capital. The fact that the cannabis industry has been built on a foundation of quicksand subject to the whims of the federal government has been an almost insurmountable challenge,” 420 Investor Alan Brochstein told Benzinga.

“The Canadian LPs appear to have put in a low, with the Canadian Cannabis LP Index posting a clear double-bottom on Tuesday,” he said. “With that said, investors need to appreciate that the sector isn’t likely to move in tandem. In fact this has been the case for the past few months. The diversity of returns so far in April illustrates this as well.”

Source: New Cannabis Ventures.

Driven by the Boehner and Trump news, the United States Marijuana Index, which tracks 17 of the largest marijuana

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