January 2, 2014

Marijuana Stocks Surge 20%-80% as Investor Optimism Over Cannabis Swells

MarijuanaStocks

Shares of public cannabis companies started off 2014 with a bang, posting huge gains on the first day of trading since the successful launch of recreational marijuana stores in Colorado.

Many stocks rose at least 20% in intra-day trading on Thursday vs. their 2013 closing price. A handful surged more than 60%, and one touched 80%. That’s a stark contrast to the broader stock markets, which dipped into the red.

Only a handful of marijuana stocks declined.

The stock spikes reflect excitement over the future of the cannabis industry after retail cannabis shops successfully launched in Colorado on Wednesday. The first stores encountered huge demand, and the “cannabis chaos” that some predicted didn’t materialize.

That stoked optimism among investors about the continued spread of marijuana laws – and the businesses that benefit from them.

Cannabis stocks – all of which are listed on the over-the-counter markets – are subject to rapid price changes, as they are thinly traded. So they could relinquish some or all of these gains quickly.

Regardless, it’s a great way to start 2014 for the industry.

Last year, nearly half a dozen cannabis stocks ended the year down, though the sector as a whole experienced a late-December rally.

Here are some of Thursday’s biggest cannabis stock movers (note – prices reflect intra-day highs as of mid-afternoon Eastern Standard Time):

- MediSwipe (ticker symbol: MWIPD) rose 80% – or 9 cents – at one point to hit 20 cents, while Cannabis Science (CBIS) and GreenGro Technologies (GRNH) saw their share prices increase more than 70%.

- MedBox (MDBX) soared as high as 60% – or nearly $11 a share – as did Endocan Corp. (ENDO), while Hemp Inc. (HEMP) and Fusion Pharm (FSPM) rose more than 50%.

- Growlife (PHOT) shares increased 35% in early afternoon trading, hitting a 52-week high of 20 cents, and Medical Marijuana Inc. (MJNA) jumped 25% at one point.


4 Comments:

  1. You should add CANN-Advanced Cannabis Solutions, Inc.–
    up $.75 to $4.00 today and a real company.

  2. You did not mention latteno food corp. ticker symbol: LATF. They make medical marijuana edibles and the stock went up 100%.

  3. The end of prohibition of marijuana is upon us, and as more and more states legalize the medicinal use, a multi-billion dollar industry begins to take shape. The development of this industry, in its infancy stage, is opening the door for businesses to enter a market at the forefront and become an industry leader immediately, with the potential for exponential growth. Lvl Up Management Group, Inc. is one such company that is capitalizing on this unique opportunity. The company recognizes that a business opportunity, where there is limitations on the amount of market participants, is a rare one, and this barrier of entry will allow those businesses, that are approved, a market, where competition is specifically defined.
    Clark County is restricting the number of dispensaries to 40, in a county that currently has 3,600 cardholders. Analyst’s expectation is that this number will grow by a factor of 10, as actual locations are presented for cardholders to purchase their medicine. Lvl Up Management Group, Inc. is actively pursuing the aforementioned licensing to operate a cultivation facility as well as a retail dispensary. We are currently raising capital and are giving investors an opportunity to be involved with our company early on, as we move forward developing two separate but correlated companies within this exciting industry. Click on the link below to learn more about Lvl Up Management Group, Inc. and their overall strategy to ensure the approval for licensing and when approved, the strategy to become the primary player in the market. http://www.lvlupmanagementgroup.com

  4. Looks like the only place to go over the long haul is ever higher (pun intended).

Post Your Comment:


Please note:
Comments are moderated by our editors who do their best to approve comments ASAP. As MMJ Business Daily is focused on business, we approve comments that are specifically relevant to industry professionals. General opinions and questions about cannabis may not be posted.

Applicant for Massachusetts MMJ Licenses ‘Befuddled’ by Ruling

MassHealthDepartment

A Denver medical cannabis company says it’s “befuddled” by obstacles it has encountered while trying [click to continue...]

Lawsuits Could ‘Destroy’ Rec Cannabis in Washington State

Federal versus local control over marijuana. That’s the question at the heart of two lawsuits [click to continue...]

Recreational Marijuana Good for Oregon’s Budget, Researcher Says

OregonMedicalMarijuana

Legalizing recreational marijuana in Oregon would represent a “net win” for the state from a [click to continue...]

1st Connecticut Dispensary Opens

The first of six medical marijuana dispensaries formally opened in Connecticut on Wednesday night. The [click to continue...]

Canadian Cultivation Company’s Stock to Debut Monday

Bedrocan

A Canadian company is set to become just the second licensed medical cannabis cultivation business [click to continue...]

No Compensation for California Growers Under Revised Bill

The California State Assembly keeps going in circles when it comes to medical marijuana, and [click to continue...]

Poll: Support for Rec Marijuana Erodes in Alaska

Marijuana advocates in Alaska may be in for a disappointment come November. The latest survey [click to continue...]

Colorado Edibles Companies Expanding Amid Sky-High Demand

edibles2

Edibles manufacturers in Colorado are aggressively boosting production to meet overwhelming demand for infused candies, [click to continue...]

Hundreds Apply for Nevada MMJ Business Licenses

Entrepreneurs submitted nearly 400 applications for medical marijuana business licenses in Nevada by Monday’s deadline, [click to continue...]

Oklahoma Legalization Bid Stalls

Despite the best efforts of cannabis activists in Oklahoma, a proposal to legalize medical marijuana [click to continue...]

Canadian Court Clears Way for Infused Products

Flag_of_Canada.svg

A high court in Canada has possibly opened the door to a new market for [click to continue...]

Arkansas Legalization Proposals Gain Steam

Arkansas could become one of the first Southern states to legalize medical or recreational marijuana [click to continue...]

Colombian President Backs MMJ Legalization

Santos

Medical marijuana is starting to gain traction across the globe, particularly in South America. On [click to continue...]

58 Dispensary Inspections, 2 Closures in Oregon

Oregon health inspectors have made 58 surprise visits to medical marijuana dispensaries since late May, [click to continue...]