Russian Ties Put Alabama Cannabis Regulators In Hot Water
Portfolio Pulse from Jelena Martinovic
The Alabama Medical Cannabis Commission's license allocation process is under scrutiny due to alleged ties with Russian oligarch, Andrey Blokh, who is the second-biggest shareholder at Curaleaf Holdings, Inc. and partially owns 3 Notch Roots LLC, a company awarded a license. Blokh is linked to Roman Abramovich, who has been secretly investing in cannabis companies and was sanctioned by the U.K., the EU, and the U.S. following Russia's invasion of Ukraine. Curaleaf and its chairman, Boris Jordan, were also targeted due to potential connections to Russia.
September 21, 2023 | 4:26 pm
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NEGATIVE IMPACT
Curaleaf Holdings, Inc. is under scrutiny due to its alleged ties with Russian oligarch, Andrey Blokh, and potential connections to Russia.
The news about the alleged ties with a Russian oligarch and potential connections to Russia could negatively impact the reputation of Curaleaf Holdings, Inc., leading to a potential decrease in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Verano Holdings is indirectly involved in the scandal due to the faulty medical cannabis license allocation process by the Alabama Medical Cannabis Commission.
Although Verano Holdings is not directly linked to the scandal, its involvement in the faulty license allocation process could potentially harm its reputation and negatively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50