Buying cannabis stocks could be interpreted as ‘involvement’ in illegal drugs, some fear.
Tesla TSLA, +2.39% and SpaceX founder Elon Musk is reportedly having his security clearance reviewed after smoking marijuana during a podcast, but he’s far from the only person whose government security clearance is threatened by a cannabis connection.
Using marijuana — which is illegal under federal law but legal in several states — is definitely a no-no under security clearance guidelines, which prohibit the unlawful use of controlled substances. But Maimone, whose union represents close to 9,000 Department of Defense employees worldwide, said it felt like higher-ups were “picking on” employees who are invested in marijuana-related stocks.
‘If you are purposely seeking out marijuana stocks and intentionally investing in what the federal government sees as an illegal drug, you run the risk of losing your clearance.
Investment in cannabis companies is booming The questions come as the burgeoning cannabis industry is capturing the interest of investors who see an opportunity to get in on the ground floor of a potentially lucrative market. Shares in companies like, Aphria Inc. APHA, +2.20% , Aurora Cannabis Inc. ACB, +2.58% , Cronos Group Inc., Canopy Growth Corp CGC, +1.34% WEED, +1.10% , GW Pharmaceuticals GWPH, +3.76% , and Tilray Inc. TLRY, +0.00% have surged over the last year.
But buying shares in individual cannabis companies is another matter. “If you are purposely seeking out marijuana stocks and intentionally investing in what the federal government sees as an illegal drug, you run the risk of losing your clearance,” said Kuhn, who chairs the national security practice group at law firm Tully & Rinckey.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
As Nazi horrors fade into history, some youths are seduced by hate, others will never forgetSome young people's embrace of Nazi imagery may come from ignorance, experts say, but 'ignorance is the soil from which evil takes root.'
Read more »
Daylight Saving Time: Don't forget to spring forwardBenjamin Franklin first thought up the idea of daylight saving in 1784. It wasn't instituted until World War I, when it went into effect to save energy used for lights.
Read more »
Jeff Bezos: Forget Mars, humans will live in these free-floating space pod coloniesJeff Bezos: The top of Mount Everest is a 'garden paradise' compared to Mars via CNBCMakeIt
Read more »
We’re Living in a Golden Age of Classy Pork RindsThe salty snack long thought of as junk food gets a makeover, with high-end ingredients and even vegan options. ‘Hmm, let me hear more about this.’
Read more »
Tesla’s Elon Musk, facing contempt charges, says semi-secret meeting was a mistakeTesla refused to release recording or transcript of an invitation-only meeting where profits and production forecasts were discussed. Elon Musk said the company's media team is 'fixing' the 'mistake.' More from russ1mitchell:
Read more »
Elon Musk's first Boring Company tunnel has its best chance of coming to Las Vegas firstThe Las Vegas Convention and Visitors Authority recommends using The Boring Company's tunnel design for its remodeled facility.
Read more »
Elon Musk always thought SpaceX would 'fail' and he'd lose his PayPal millionsElon Musk on SpaceX: 'I always thought we would fail' via CNBCMakeIt
Read more »
Elon Musk asks Pentagon for his security clearance back during review of pot-smoking incidentMusk, who is also CEO of Tesla, refiled security form SF-86, the person said, following his apparent use of marijuana on a podcast last year, which the U.S. Air Force began looking into in September.
Read more »