There’s a new sheriff in town!
The U.S. Senate just voted to CONFIRM the new U.S. Attorney General.
And his new approach to legal marijuana could send stocks surging.
William Barr was President Trump’s nominee for Attorney General. And yesterday, he was confirmed in a 54-45 Senate vote.
During the confirmation process, Barr said that he would stay out of states where cannabis is legal.
Specifically, Barr will “not go after” cannabis businesses that operate in states that have legalized medical and adult-use of marijuana.
While Barr doesn’t support legalization at the federal level . . . he admitted that the current situation is “untenable.”
Barr’s appointment is a sharp reversal from Attorney General Jeff Sessions. Sessions had rescinded an Obama-era policy that kept the feds out of states with legal cannabis.
This is great news for cannabis stocks. And it’s one reason these stocks are soaring.
In fact, the 45% year-to-date gains for pot stocks makes this . . .
The No. 1 sector of the entire stock market!
In 2018, five states legalized either medical or adult use of marijuana.
That means a total of 47 states now have cannabis laws that put them in conflict with the Controlled Substances Act.
SOURCE: http://www.wyattresearch.com/article/pot-stock-profits-new-attorney-general-marijuana/