Andre Bourque, Entrepreneur.com's savvy and deeply experienced Cannabis Contributor and social media maven whose work has appeared in over 150 publications, has quoted BGP Advisors' Partner Ruth Epstein in his timely article, "Why Jeff Sessions' New War on Marijuana Hasn't Frightened Investors or Cannabis Entrepreneurs".
The article was posted today on the Entrepreneur website.
The subhead for the article lays out Bourque's rationale for stoic optimism in the face of last week's announcement of "The Sessions Memo" by US Attorney Jeff Sessions, which suspended Obama-era guidance de-prioritizing federal funding for punitive response to the development of voter-approved cannabis businesses in 29 states plus the District of Columbia:
("The Attorney General's new policy to resume unbridled federal enforcement of marijuana laws has inadvertently revealed just how entrenched the cannabis industry has already become.")
In providing expert opinion on how investors appear to be treating the announcement of the new federal policy, Bourque includes BGP Partner Ruth Epstein with a bipartisan group of respected political leaders such as Senator Cory Gardner, (R-CO) Nevada Governor Brian Sandoval, and US Representative Earl Blumenauer (D-OR), as well as business owners, legal experts, health advocates, and industry research experts.
Epstein's statement is included here:
"Risk is ultimately met with reward.
According to some, cannabis investors have already, and inherently, factored risk into their investment activities. And those who’ve ridden out this sudden blip in their portfolio have quickly seen it recover. A day after the Sessions announcement cannabis markets rebounded and rallied.
"As evidenced by the immediate drop and then nearly full rebound of cannabis-related stocks after Sessions’ announcement, the market seems to feel that the actual risk of the DOJ enforcing the federal laws against the will of the people is small,” Ruth Epstein, partner at business and financial advisory firm, BGP Advisors relayed to me.
"The fact of federal illegality has been something that investors have historically factored into their decision-making, and it is unlikely that the Attorney General codifying his well-known desire to prosecute state legal cannabis enterprises will have a material impact on investor interest,” Epstein believes."