Skip to comments.Pot stocks light up the market
Posted on 01/07/2014 5:32:29 PM PST by QT3.14
The business of legal marijuana is booming in Colorado -- and investors are catching a contact high.
Yes, there are pot stocks. Nearly all of them are thinly traded penny stocks available only on over-the-counter exchanges, but shares of companies that service the growing cannabis market have been blazing in recent weeks. Medbox (MDBX) is the latest example. The company provides products and services for businesses that dispense medication, such as pharmacies. It announced plans Tuesday to tailor its products for use in recreational and medical marijuana facilities. Shares soared 65%. (Medbox, for the record, is not a penny stock. Shares trade for about $66 and the company is valued at nearly $1 billion.)
(Excerpt) Read more at money.cnn.com ...
Yes indeed it seems!
Potheads making “the rich” richer. LOL! There goes the “gap” between “the rich” and “the poor” and it’s “the poor” who are making it bigger.
How lovely. Forget old-fashioned stocks and bonds, and become a de-facto dope peddler.
America has become such a degenerate sewer!
Invest in Fritos vending machines...
What’s really interesting is that Colorado is basically out of marijuana. The demand is much higher than the supply. So now to do business, the shop owners have to either
A.) wait for the next crop which could be months depending on if they have grow out doors, or if they have rotating indoor operations.
B.) get the product illegally out of state.
You know, it can be strongly debated that alcohol is a much more dangerous and addictive drug.
Growing outdoors is out. That is still not legal in CO.
What are the laws on indoor growing(capacity, time frame)?
What are the laws on trafficking?
Today's Close = $73.90 that's up $63.79 since the day after Christmas
For personal use a person can grow six plants at a time. Not sure how many times a year. The regulations may be different for someone growing commercially for the market but I don’t know what they are. Pretty sure outdoor growing is out altogether. I don’t know what the laws are on trafficking either.
This story has a lot of conservatives lit up.
Well, I’m sure trafficking is very much illegal. This is really interesting though. Because people WILL be trafficking. The possibility of high profit is ridiculous if you could take a lot and knew people there that could pay.
On a moral basis, is this stock significantly different from Beam, Diageo, MolsonCoors, BudweiserInBev, etc?
I think there has been good profit in selling pot for a long time. I doubt that the legal market is helping the illicit market.
the free enterprise system at its finest
I remember an “advertising” course I took in college thirty years ago, and the topic came up about working on ad campaigns for alcohol and tobacco companies, and the gravity of the moral quandary involved. The majority there seemed to agree it was something they would not be willing to do.
My opinion of people who take dope is incredibly low, but far worse, someone who actually works to sell and promote it (even if legal) would be someone I’d regard to be of supremely low, downright degenerate character. But it pretty much fits into the degraded depths America has sunk to. The whole country has “defined deviancy down” to the point of a putrid cultural abyss.
The only "deviancy" left in this society is what used to be known as decency and common sense.
Personally, I would not purchase or own booze stocks. For moral reasons, notwithstanding alcohol’s longtime position in American culture and heritage.
Closing up $33.95 to $73.90 today on 1.5 mil shares when the daily average is about 42,000, I'm sure had to do with MDBX being mentioned on CNBC's 'Closing Bell' yesterday and then again around noon today.
I just took a peek at the NASDAQ after-hours trading for them today:
Up $16 to $90 !!!!
NOV 2012 they were at $205 for one day before going back to reality. Maybe that is where they are headed again.