Senator Boehner and his new role in a cannabis company
The marijuana industry in the US has just taken a step forward with its new member being former U.S. House Speaker John Boehner. On Wednesday, former U.S. House Speaker John Boehner declared that the advisory board of marijuana firm Acreage Holdings. After this news was declared, there was a sudden rise in prominent marijuana stocks. Boehner said in an announcement that his status “has evolved” from restricting to supporting legalization of weed. “I decided to get involved because of the struggles of our country’s veterans and the opioid epidemic, after learning how descheduling the drug can potentially help with both crises,” said Boehner, 68.
Following John Boehner’s announcement, shares of Cannabis industries in countries like Canada’s Aphria, Aurora, and others climbed somewhere in the range of 1% to over 4% after Boehner’s unexpected declaration, beating more broader markets. On Wednesday trading, Aurora Cannabis was up 2.5%; the U.K’s. GW Pharmaceuticals, which is competing for the primary Food and Drug Administration (FDA) endorsed cannabis-based prescription in the U.S., climbed over 2%; Canada’s MedReleaf skipped to 4% while Aprhia had a more unassuming 1% rise.
Boehner is a Republican ex-Congressman from Ohio who restricted the use of weed during his period of serving in the House of Representatives before venturing down around the end of the year 2015. Yet, he had a change of mind on Wednesday, mirroring a more extensive move in how general society (and legislators) see cannabis decriminalization, legalization, and research. Boehner particularly referred to the capability of medical marijuana to help in the fight of the opioid epidemic as a basis for his change of mind.
Boehner and previous Massachusetts Governor Bill Weld talked about how we have to look no further than the United States’ 20 million veterans, of which 20% of them apparently utilize cannabis to self-treat PTSD, unending torment, and different infirmities as per a 2017 American Legion study. They furthermore said that the [Department of Veterans Affairs] does not enable its specialists to prescribe its use. There are numerous other patient groups in America whose quality of life has been dramatically improved by the state-sanctioned use of medical cannabis.
Former Massachusetts Governor Bill Weld is also known for being a libertarian who is also joining Acreage’s board of advisors.
Acreage Holdings is a versatile marijuana company that handles activities, including the growing of cannabis, managing, and overseeing dispensaries. It’s a developing industry due to the fact that it has cannabis operations in 11 states. Presently 30 states and the District of Columbia have extensively sanctioned the utilization of cannabis in one way or the other, and recreational marijuana has been further legalized in eight states, including DC. Acreage Holdings’ CEO, Kevin Murphy, said Boehner and Weld “have shaped the political course of our country for decades and now they will help shape the course of this nascent but ascendant industry.” New York-based Acreage said Boehner and Weld would serve on its top managerial staff once its formed.
This is Boehner’s second significant impact into a “bad habit” industry— towards the end of 2016, Boehner (a famous cigarette smoker) became a member of the board of tobacco giant Reynolds American, which producesprominent cigarette brands like Camel, Newport, and Pall Mall.