Uncool, bro

Last week Jeff Sessions, the United States Attorney General (and the country’s least cool Dad) issued a memo that overturns the Obama-era practice of not interfering in states where marijuana use is decriminalized. Remember, states aren’t allowed to pass laws that conflict with federal laws (Article 6 of the US constitution) and the feds have been anti-pot for a long time. Not only does shift this justify the weed-induced feelings of paranoia for recreational users in “legal” states, but it also places in limbo the consumer-facing businesses and the resulting state tax revenues in those states. While the redirection does seem unlikely to affect medical use of the drug—at least for now—publicly traded pot stocks took a hit on the news. Yep, there’s a marijuana stock index.