The Cannabis Finance Community Reacts To Jeff Sessions' Ousting

Whether you want to call it a resignation or a firing, the outcome is the same: Jeff Sessions is no longer the attorney general of the United States. And, with him, many expect, the federal government’s strong opposition to cannabis legalization could depart as well.

Benzinga reached out to iAnthus Capital Holdings Inc ITHUF, CanopyVentures and Arcadian Fund for the cannabis industry perspective on the AG's exit.

A Positive For The Industry

For iAnthus Capital CEO Hadley Ford, having a top cop with a more "constructive" view on cannabis would be positive for the industry. But Ford never truly believed Sessions' actions had a substantial effect on the sector.

Having said that, Sessions' mindset “cast a cloud of doubt and uncertainty over the space, which caused volatility and higher costs," Ford said.

“If there’s less doubt, we should see lower costs for capital and other inputs to the industry — the ubiquitous ‘green tax’ — and people will feel more comfortable entering the industry."

CanopyVentures Managing Director Micah Tapman said Sessions resignation is a landmark development in cannabis.

“Sessions’ resignation represents a sea change for the legal cannabis industry,” he told Benzinga. “Mr. Sessions was a radical attorney general who tried to revoke state’s rights in order to promote a moral viewpoint out of step with the majority of Americans."

The U.S. needs an AG who respects the rule of law and states' rights, Tapman said.

"Hopefully we go one better and President Trump nominates someone in step with the majority of the country, which strongly supports legalization.”

Jeff Siegel, managing editor of Green Chip Stocks and cannabis stock analyst for Benzinga, sounded a cautious note about Sessions’ successor.

“There's a lot of enthusiasm over the resignation of Jeff Sessions, but that enthusiasm could be extinguished pretty quickly if his replacement ends up being another prohibitionist. Chris Christie could be in line for the job; Christie is also an outspoken prohibitionist," Siegel said.

It's too early to gauge the impact of the leadership change, he said.

"Investors should avoid making any big moves until there's more evidence that Sessions' replacement will be less hostile to the cannabis industry.”

A Change Is Coming

Arcadian Fund CEO Matthew Nordgren said he and his team expect change, and not because of cannabis.

“There were many other issues that the Trump administration and Jeff Sessions were dealing with,” he told Benzinga.

“The most likely time for this to happen was post-midterms. Even if Sessions stayed in his role, his ability to get things done would have been compromised as compared to what it was before hand with full controls across the board."

No matter who replaces Session, it will be an improvement, Nordgren said.

"Markets have reacted positively, quickly, but we still need to see how things unfold to know more accurately.”

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Public domain photo via Wikimedia.

Posted In: Arcadian FundCitron ResearchHadley FordJeff SessionsJeff SiegelMatthew J. NordgrenMatthew NordgrenMicah TapmanPete SessionsCannabisShort SellersPoliticsMarketsInterviewGeneral


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11 Best Black Friday Deals on Amazon

11 Best Black Friday Deals on Amazon

The best Black Friday deals from Amazon are still coming hard and fast because the holiday is not yet upon us and the mega-retailer prefers to keep consumers on the hook for as long as possible—spending as much money as possible. 

To that end, here are some of the best Black Friday deals from Amazon that you might want to consider today.

Calphalon 10-Piece Pots and Pans Set

Regular Price: $172

Sale Price: $138.88

Calphalon’s 10-Piece Pots and Pans Set is designed with stainless steel, stay-cool handles along with pour spouts. The nonstick surface is PFOA-free and built with hard-anodized aluminum that is both durable and conducts heat extremely well. The set includes 2 fry pans, a sauce pan with cover, saute pan with cover and large stock pot with cover.

Apple AirPods 2nd Generation

Regular Price: $144

Sale Price: $85.49

The 2nd Generation AirPods from Apple connect to all Apple devices and give you an enhanced listening experience. Plus, they come with a case that keeps them safe and allows you to charge them in a secure environment. With over 24 hours of battery life, access to Siri and easy setup, you can start listening to your favorite tunes or podcasts today.

Adidas Ultraboost 21 Running Shoes

Regular Price: $129.98

Sale Price: $89.98

The Adidas Women’s Ultraboost 21 running shoe is perfect for anyone who likes a short run, maybe a 5K, half marathon or more. Coming in several colors and styles, you can slip these shoes on, enjoy the cushioned outsole, sink into the supple insole and secure laces.

Ninja AF101 Air Fryer

Regular Price: $129.99

Sale Price: $97.83

The Ninja AF101 Air Fryer allows you to crisp, roast, reheat and even dehydrate food products faster and cheaper than ever before. It has a 4-quart capacity and offers a wide temperature range along with several time settings so that you can customize each dish to your needs. Plus, all the parts are dishwasher safe.

Beats Solo3 Wireless On-Ear Headphones

Regular Price: $199.95

Sale Price: $99

Beats by Dr. Dre are among the best headphones on the market, and the Solo3 Wireless On-Ear Headphones include the Apple W1 chip, Class 1 Bluetooth and 40 hours of battery time. These headphones even have a built-in microphone and offer an adjustable fit so that you can be comfortable whether you’re listening to an Android or iOS device.

Hoover Power Scrub Deluxe Carpet Cleaner

Regular Price: $198.98

Sale Price: $175.98

The Hoover Power Scrub Deluxe Carpet Cleaner allows you to keep your home spotless and clean up after your pets. The cleaner comes with the Hoover Paws and Claws Deep shampoo and a storage mat to keep the floor dry once it’s put away.

LG CordZero Auto Empty Cordless Stick Vacuum

Regular Price: $999.00

Sale Price: $851.71

The LG CordZero Auto Empty Cordless Stick Vacuum and Wet Mop All in One Tower is designed to work in homes with several pets or children and clean up all the messes that life brings. The battery lasts up to 2 hours, and there’s an extra removable battery that gives you even more cleaning time and power.

Breville Fresh and Furious Blender

Regular Price: $278.60

Sale Price: $199.95

Breville, a top name in blenders and juicers, offers the Fresh and Furious Blender, featuring 50-ounce capacity, Vac Q technology, pre-programmed cycles, LCD display and lid with pull ring. With the Fresh and Furious Blender, you can make everything from a smoothie to a soup and everything in between.

Hot Tools Professional 2000 Turbo Ionic Hair Dryer

Regular Price: $89.99

Sale Price: $55.63

The Hot Tools Professional 2000 Turbo Ionic Hair Dryer is designed for professional use, but it works perfectly in the home. With 1875 watts of power, 6 heat and speed settings and a lightweight design, you can easily style your hair and utilize the diffuser, cut back on the frizz and stretch the 8 ft cord for maximum functionality.

Columbia Heavenly Long Hooded Jacket

Regular Price: $160

Sale Price: $97.38

The Heavenly Long Hooded Jacket from Columbia is designed to be light for everyday use, but it’s heavy enough to protect you from the cold. The plush fleece lining, security pocket, water resistant fabric, 2-way zipper, and zippered hand pockets make the jacket both protective and functional.

ConAir InfinitiPro Hair Dryer

Regular Price: $49.99

Sale Price: $29.99

ConAir is one of the biggest names in hair and beauty, and the InfinitPro is an 1875 watt hair dryer designed for professionals with ceramic technology. The dryer comes with a diffuser and concentrator, and it allows you to blow out your hair just the way they would at the salon.

Deals the Experts Are Hoping For

Experts believe that Amazon’s Black Friday sale could linger for quite some time. It all started with the Prime Early Access sale on October 11 and 12. Previously, Amazon has offered the “Epic Deals” sale that ran through late October. 

This is to say that any sale could come up at any time. 

Even so, those monitoring Amazon are looking forward to a few potential deals, including:

  • Apple Watch
  • AirPods (any generation)
  • MacBook Pro
  • Large, underpriced TVs
  • Amazon Echo
  • More small home appliances (Dyson or Shark vacuums, Instant Pots, etc.) 

While these predictions are based on last year’s Amazon Black Friday Sale, it’s important to remember that most Black Friday sales are fairly consistent and push the products that are most likely to sell.


Featured image sourced from Shutterstock

Posted In: Partner ContentGeneral