Donald Trump took the White House, Republicans control of both houses of Congress and Jeff Sessions is officially attorney general. That combo is bad news for U.S. marijuana stocks.
On Election Night, marijuana scored key vote victories in eight out of nine states. Unfortunately, it remains illegal on a federal level, and prospects for U.S. federal legalization of marijuana seem nearly nonexistent in the near future.
Business is booming for marijuana stocks in states with legalized weed. But a big part of the huge growth in the marijuana business in recent years has been the previous administrations’ willingness to turn a blind eye.
Trump’s temporary travel ban and free trade disruptions make clear that he is certainly not scared to disrupt the status quo. In the past, Sessions has harshly criticized the marijuana industry. Sessions even once said “good people don’t smoke marijuana.”
Trump’s unpredictable and aggressive policy attitude could easily disrupt the U.S. marijuana industry overnight. Fortunately, not every marijuana stock needs federal legalization. Here are three marijuana stocks that would be just fine if the U.S. never legalizes weed.