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Why Investors Weren't Catching a Buzz From Curaleaf Holdings Stock Today
The market wasn't exactly rushing to light up on marijuana stock Curaleaf Holdings (OTC: CURLF) on Monday. More than a few investors were spooked by the pronouncements of a top Washington, D.C. law enforcement official on the retail pot business, and elected to trade out of the shares. They closed the day more than 7% lower in price, while the S&P 500 index more or less flat-lined.That official is Ed Martin, who is currently serving as the interim U.S. Attorney for the District and being grilled by the Senate in order to gain confirmation to remove the "interim" designation.In a TV interview on Friday, Martin offered remarks about a recent move to send a letter to a D.C. dispensary, Green Theory, that implied the business could be subject to federal prosecution. He claimed that while the dispensary was operating within the frame of local law, it violated U.S. law by being less than 1,000 feet from a school campus. Continue reading
The market wasn't exactly rushing to light up on marijuana stock Curaleaf Holdings (OTC: CURLF) on Monday. More than a few investors were spooked by the pronouncements of a top Washington, D.C. law enforcement official on the retail pot business, and elected to trade out of the shares. They closed the day more than 7% lower in price, while the S&P 500 index more or less flat-lined.
That official is Ed Martin, who is currently serving as the interim U.S. Attorney for the District and being grilled by the Senate in order to gain confirmation to remove the "interim" designation.
In a TV interview on Friday, Martin offered remarks about a recent move to send a letter to a D.C. dispensary, Green Theory, that implied the business could be subject to federal prosecution. He claimed that while the dispensary was operating within the frame of local law, it violated U.S. law by being less than 1,000 feet from a school campus.
