SAN FRANCISCO >> This week’s announcement that the U.S. Department of Justice would lift its hands-off approach to states that legalized marijuana shocked many in the industry who have been trying to go legit.
Marijuana stocks plunged and investors fretted in the hours immediately after U.S. Attorney General Jeff Sessions made the move.
By the weekend, though, cooler heads prevailed and many in the industry say they are waiting for the smoke to clear before determining if significant changes are coming.
Longtime marijuana operators say Sessions’ action was merely symbolic and they expect it to be business as usual.
Sessions provided no details other than saying individual U.S. attorneys are authorized to prosecute marijuana operators as they choose.