I believe the general euphoria about the recreational cannabis market opening up in California and other State's, as well as anticipated news this quarter, caused the move on Tuesday. Session's action is bringing the whole sector down today.
As for OWCP, if you take a serious look at the company it should be realized that Session's actions shouldn't effect it very much at all. Why? Because what OWCP is developing can clearly be sold in medical marijuana stores, and Session's actions are going against recreational marijuana and Congress has prevented Justice from going after medical marijuana.
I don't know what State's with recreational marijuana will do, but one simple solution would be to issue prescriptions to virtually anyone asking for them, like you'd issue a library card. I'm not saying this will be done, but I also think that Federal Attorney's will have a hard time trying a case in California, or any other State where it's legal, and any action they take will be taken as harassment by the Fed. into the State. I suspect that most Justice Dept. Attorneys will keep hands off, but time will tell.
One thing is certain, we no longer have to wonder whether technicians will accept the MM's game with the $.435 gap, it's clearly been filled in a totally legitimate way.
As for future prices, I believe we'll be substantially higher after real news, but this quarter is the closest I can come to when it will happen, their is no guarantee of such news this month. As for the cannabis market in general, it will come back as it becomes clear that Emperor Session's has no clothes.
Gary
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