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Shares of Tilray light up after US Attorney General Jeff Sessions resigns

Sessions submitted his letter of resignation to President Trump Wednesday afternoon
Jeff Sessions
The now-former attorney general has often spoken out against marijuana legalization

Tilray Inc (NASDAQ:TLRY) shares surged in the double digits shortly after US Attorney General Jeff Sessions submitted his letter of resignation to President Trump Wednesday.

The stock jumped more than 30% to US$139.18 in afternoon trading in New York.

Aurora Cannabis Inc (NYSE:ACB) shares rose 8% to US$8 while shares of Canopy Growth Corp (TSX:WEED,NYSE:CGC) added nearly 9% to US$46.27.

Sessions' chief of staff Matthew Whitaker will serve as acting attorney general.

The now-former attorney general has been a vocal opponent of marijuana legalization and was viewed as a major obstacle by cannabis advocates.

The Alabama senator rolled back guidelines put in place by the Obama administration, directing federal agents to prosecute drug criminals to the fullest extent of the law.

The senator was once quoted as saying “I thought those guys [the Ku Klux Klan] were OK until I learned they smoked pot.”

He later clarified that it was a joke, but few were laughing. The senator made the statement during the investigation of the death of a young black man named Michael Donald, murdered by the white supremacy organization in Mobile in 1981.

The midterm elections brought legalized recreational marijuana to Michigan and legalized medical marijuana to Missouri and Utah.

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Contact Lenore Fedow at [email protected]

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