Updated: July 24, 2017
Attorney General Change Could Send Cannabis Stocks Rallying
(NEW YORK)--A pending vote in Congress on cannabis, and rumors that Attorney General Sessions may be replaced as head of Dept of Justive, both could set the stage for rally in marijuana stocks.
Rumors Session's May be Replaced
Rumors are swirling early this week that President Trump may be considering replacing Attorney General Jeff Sessions with former New York City Mayor Rudy Giuliani.
In more signs Sessions time may be coming to an end as Attorney General, President Trump called Sessions 'beleaguered' in tweet just this morning.
Regardless if he quits, or is replaced as head of the Dept. of Justice, traders could see a major spike in cannabis and marijuana related stocks.
(see list below)
Pending Vote in Congress
In May 2017, Attorney General Jeff Sessions wrote a letter to Senate Majority Leader Mitch McConnell, Speaker of the House Paul Ryan, Senate Minority Leader Charles Schumer, and House Minority Leader Nancy Pelosi asking that Congress not approve the Rohrabacher-Blumenauer amendment, which prohibits the Department of Justice from spending federal funds to prosecute states acting in accordance with their own medical cannabis laws.
The amendment, introduced by Representatives Dana Rohrabacher (R-Calf.) and Earl Blumenauer (D-Ore.), was originally passed in the House in 2014 and 2015, and has remained on the current budget through the continuing resolution, but is set to expire this September.
This legal uncertainty took a lot of air out of the red hot marijuana sector, but things may be about to catch fire again with the upcoming vote expected shortly.
In the coming days, before the August recess, Congress is expected to vote on the Rohrabacher-Blumenauer amendment for the Fiscal Year 2018 appropriations bill. If the Rohrabacher-Blumenauer amendment is passed within the bill traders could see a sharp rally within a select few marijuana and cannabis plays.
Here are a few cannabis related stocks that could be in play shortly.
Real Brands, Inc. (OTC:RLBD)
Real Brands, Inc. (RLBD) is a publicly held company. The Company’s strategy is to build brands and is currently focusing on consumer products brand development and marketing in the legal hemp and cannabis industry. Real Brands, Inc. currently has a super majority controlling equity interest in Omega Hemp Water trademarks and intellectual properties. For additional information go to www.realbrandsusa.com
ChineseInvestors, Inc. (OTCQB:CIIX)
Founded in 1999, ChineseInvestors.com (OTCQB: CIIX) endeavors to be an innovative company providing: (a) real-time market commentary, analysis, and educational-related services in Chinese language character sets (traditional and simplified); (b) advertising and public relation-related support services; and (c) retail, online and direct sales of hemp-based products and other health-related products. For more information visit www.chineseInvestors.com
Grow Condos, Inc. (OTC:GRWC)
Grow Condos is a fully reporting publicly traded company listed under the symbol GRWC: Pink Sheets. It is a real estate purchaser, developer & manager of specific use industrial properties providing "condo" style turn-key grow facilities to support the cannabis industry. We own, lease, sell and manage multi-tenant properties. www.growcondos.com
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