The fallout from Sean Spicer’s cannabis comments last week continues. Cannabis stocks have plunged as much as 15 percent after the White House press secretary implied that the Department of Justice may enforce federal marijuana laws more strictly.
MarijuanaIndex.com tracks cannabis stocks in the United States and Canada using an index of constituent stocks, much like the Dow Jones Industrial Average. As late as Tuesday, Feb. 21, the site’s U.S. cannabis stocks index hit 81.30, moderately down from last year’s Oct. 31 high of 110.64, when pre-legalization election fever was high. That index went south immediately following Spicer’s comments on Thursday, Feb. 23, and continued to fall on Friday. At the end of the week’s trading, the index stood at 72.80, a loss of more than 10 percent.