Cannabis Coming of Age in the USA
Today, the cannabis industry in the US can breathe easier as former Republican House Speaker John Boehner joins the advisory board of US cannabis producer Acreage Holdings.
The announcement that Mr. Boehner and former Massachusetts Governor William Weld will advise Acreage, a private company, should act as a positive catalyst for the overall sector.
Marijuana stocks, many of which are listed in Canada because of US legal uncertainty, have been struggling this year after nearly 3X’ing in Y 2017.
The BI Global Cannabis Competitive Peers index has lost more than 33% of its value YTD, partly driven by AG Sessions’ move in January.
Canada plans to legalize recreational use later this year following California’s steps to do so on 1 January 2018
We believe that cannabis producers “represent the next wave of outsized returns for investors” once the halo of legalization in Canada fades.
Mr. Boehner’s appointment to Acreage’s advisory board a major event that may help “legitimize” the sector and generate more and continuing investor interest.
Read more: Boehner’s ‘Bombshell’ Weed Reversal ‘Monumental’ For Marijuana | Newsmax.com
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