The stock market reacted in a volatile manner to President-elect Donald Trump’s first press conference since the election.

Cannabis stocks were not immune from this volatility and we are closely monitoring biotech stocks levered to the cannabis industry as yesterday’s trading activity was not like anything we have seen before.

An Unprecedented Reaction

The market has never seen one person have such an impact on global market activity and want to briefly highlight how the President-elect’s comments impacted the markets, specifically that of the biotech sector.

On opening day of the state Legislature’s 2017 session, a bipartisan group of legislators touted the latest proposal legalizing South Carolina medical marijuana, indicating support for the previously rejected idea is growing in the GOP-controlled Legislature.

Supporters said it’s time for politicians to allow people who are seriously ill or suffering from chronic pain to benefit from a plant that is a far better option than additive prescription opioids.

“I’m tired of seeing people suffering,” said Rep. Eric Bedingfield, R-Belton, whose 26-year-old son died last Easter after a years-long battle with opioid addiction that began with a high school soccer injury.

If the American people are worrying about Republican Sen. Jeff Sessions’ approach to enforcing federal marijuana laws, he says they should get Congress to change them.

Sessions, who President-elect Donald Trump has tapped to become U.S. attorney general, answered questions on marijuana among other issues during his confirmation hearing on Tuesday. And Sessions did not offer a definitive stance on what marijuana enforcement would look like under his justice department.

One of the most conservative members of the Wyoming State Senate is Cale Case (R-Lander). He favors approval of a medical marijuana bill and says there is a surprising amount of support for such an effort among older, conservative Wyomingites.

I happened to be with Case during his recent talk to the Lander Rotary Club. He asked the crowd of 50, how many would favor such a measure? Some 35 hands were raised – 70 percent!

Earlier, Cale had joined our Fox News All-Stars coffee group (average age 69) and took a similar poll. All of the nine people there favored it.

Approximately 3,500 patients, adults and children, in New Haven County alone are approved and using medical marijuana. Over 15,000 state-wide are using it for 22 serious conditions; including cancer, Parkinsons, Multiple Sclerosis, and Cerebral Palsy.

This week, there will be a move to expand it to seven more ailments like; Eczema, Osteoarthritis, Rheumatoid Arthritis and Fibromyalgia.

Jonathan Harris, the Commissioner of the State Department of Consumer Protection, the agency that oversees the medical marijuana program, said that the program is gaining more acceptance.

2016 is a year that will live in infamy, but one clear winner across the board was cannabis. The United States watched as eight more states legalized cannabis for medical or recreational purposes, and the ripple effect of legalization has been felt throughout the globe. 

Revel in these states' and countries' cannabis victories and look to the future with renewed optimism. What will 2017 bring? We can't wait to find out! 

Clinton, Skowhegan and Winslow take steps to enact restrictions on retail marijuana establishments in the wake of the Nov. 8 vote to legalize.

Town officials in Clinton, Skowhegan and Winslow took steps to enact restrictions on retail marijuana establishments this week, joining about two dozen other communities acting in the wake of the Nov. 8 vote to legalize marijuana.

In Clinton, the board of selectman voted unanimously Tuesday night to pass an emergency moratorium on retail marijuana establishments. The moratorium will stand for 60 days unless extended or repealed by selectmen, and it allows the planning board time to prepare changes to the land-use ordinance. Residents will have the opportunity to vote on the measure at the Town Meeting in June.

Even though recreational marijuana has been legal in Massachusetts since Dec. 15, the move by legislators at the end of the year to delay the opening of pot retail stores – coupled with two moves on the federal level – has left the marijuana business industry concerned the long wait will add up to the drug being made illegal again.

"They [cannabis industry] are paranoid, so they react to headlines," said Jeffrey Friedland, international marijuana expert, author and blogger.

Mass. lawmakers on Dec. 28 announced a six-month delay on retail sales of recreational cannabis, saying they required more time to work on the legalization measure. Votes by the House and Senate moved licensing of marijuana shops from Jan. 1, 2018, to July 1 of the same year.