Canadian Marijuana Producers End Rally as U.S. Set to Tighten Enforcement

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Canadian Marijuana Producers End Rally as U.S. Set to Tighten Enforcement

Flickr / Sam Chua / (CC BY-NC-ND 2.0)

Canadian marijuana stocks fell on Thursday after the U.S. government said it would resume enforcement of federal laws banning marijuana in states that had legalized pot, disrupting a seven-day rally that boosted shares to record highs.

The U.S. Department of Justice rescinded an Obama administration policy that discouraged federal prosecutors from pursuing marijuana-related crimes in states that had legalized the drug. The action by Attorney General Jeff Sessions could harm the burgeoning marijuana industry.

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