Marijuana stocks were in for a wild ride on Thursday after the Justice Department said it was rescinding an Obama-era policy on how the drug was policed.

The ETFMG Alternative Harvest ETF, which tracks global cannabis companies, fell 6.2 percent Thursday — though it rebounded as much as 8.9 percent in after-hours trades.

The Obama-era policy, enacted in 2013, prevented the DOJ from going after marijuana in states where the drug was legal. Recreational sales of pot became legal in California three days ago.

The DOJ will now leave it up to local US attorneys.

Also, shares of Scotts Miracle-Gro slid 2.3 percent, to $106.17, and Kush Bottles, which makes marijuana packages, fell 18.5 percent, to $3.74.