August 16, 2016
The purchase of medical marijuana GWPH was a mistake. SELL. This position collapsed today and we are glad to have had a very small position. So the loss was minimal.
WASHINGTON/NEW YORK, Aug 11 (Reuters) – The U.S. Drug Enforcement Administration on Thursday denied requests to stop classifying marijuana as a dangerous drug with no medical use, leaving users and businesses in limbo after many states have legalized it for medical or recreational purposes.
The DEA did relax certain restrictions on growing marijuana for research purposes.
For decades, marijuana has been listed as a “Schedule I” drug, placing it on par with heroin. The government has repeatedly rejected appeals for reclassification.
“Marijuana shouldn’t be listed as Schedule I,” U.S. Representative Earl Blumenauer, a Democrat from Oregon, said in a statement. He said the decision left “patients and marijuana businesses trapped between state and federal laws.”
GOLD continues to look good. GGN is now paying 12%.