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Pot Stocks Tumble On Report Of Possible Lifetime Travel Ban For Toking Canadians

Update: And just like that, marijuana stocks are careening lower after hours, following Politico report that all Canadians, especially those working in the pot sector, risk lifetime travel bans to the US, according to a senior official overseeing US border operations.

Here’s exactly how it would work at the border: CBP officials are not planning to go out of their way to interrogate every Canadian traveler about marijuana use. However, other factors may cause them to raise the topic.

“Our officers are not going to be asking everyone whether they have used marijuana, but if other questions lead there — or if there is a smell coming from the car, they might ask,” Owen said. Likewise, marijuana residue, which can linger for weeks inside a car, could be detected by CBP inspection dogs and lead to further questioning, he noted. If asked about past drug use, travelers should not lie, he said. “If you lie about it, that’s fraud and misrepresentation, which carries a lifetime ban,” Owen said.

If a traveler admits to past use of any illegal drugs, including marijuana, the traveler will be found to be inadmissible into the United States. CBP typically will allow them the opportunity to “voluntary withdraw” from the border — or face an “expedited removal.” –Politico

Canadians who work in the marijuana industry will not be permitted to enter the US. 

“Facilitating the proliferation of the legal marijuana industry in U.S. states where it is deemed legal or Canada may affect an individual’s admissibility to the U.S.,” Owen said.

Tilray, the Nanaimo BC-based company whose stock has jumped over 700% since its July debut has fallen as much as 13% after hours, while Toronto-based Cronos Group, Inc. and Canopy Growth of Smith Falls, Ontario each fell over 4%.

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