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 Marijuana 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.

Multi-state MMJ Operators Embroiled in Lawsuits, Legal Disputes

Entrepreneurs seeking cannabis licenses in multiple states have a new concern: legal issues from one [click to continue...]

CO Credit Union for MJ Businesses Could Open by New Year’s Day

Colorado marijuana businesses in need of a bank account, take heart. Banking services may soon [click to continue...]

Bill Would Allow VA Docs To Recommend MMJ

VA Logo

A bill introduced in Congress by representatives from California and Oregon with 10 bipartisan cosponsors [click to continue...]

1000-Foot Buffer Rule Could Lead to Federal Action in MA

Legal marijuana dispensaries face potential prosecution if a U.S. attorney enforces federal guidelines banning marijuana [click to continue...]

Two More San Diego MMJ Dispensaries Ordered to Close

SanDiegoskyline

The crusade against illegal medical marijuana dispensaries in southern California has been going on for [click to continue...]

Congressional GOP Not Likely to Block DC Marijuana Legalization

In what must come as a relief for cannabis enthusiasts in the nation’s capital, The [click to continue...]

Two Rec Legalization Measures Possible on Maine Ballot for 2016

Photo for medical marijuana election

Legalize Maine, an advocacy organization for legalized recreational cannabis in the northeastern state, announced a [click to continue...]

Oregon Lawmakers Begin Looking at Rec MJ Regulations

Oregon lawmakers have started asking questions about how to frame regulations pertaining to recreational marijuana [click to continue...]

Seattle Still Trying to Curb MMJ Businesses

The Emerald City has been trying for months to slow down the quickly-expanding medical marijuana [click to continue...]

Anchorage Official Moves to Ban Rec Sales in City

Alaska

Though Alaska voters spoke earlier this month on recreational marijuana, the state’s largest city might [click to continue...]

California Attorney General Says Cannabis Legalization `Inevitable’

California Attorney General Kamala Harris said cannabis legalization in the state is “inevitable” as advocates [click to continue...]

Montana Dispensary Owners Seek Stronger Regulations

Some Montana marijuana dispensaries are asking for more-stringent regulations to avoid a repeat of 2011 [click to continue...]

Final Rhode Island Dispensary Opens Wednesday

The smallest state in the nation will get its third and final medical marijuana dispensary [click to continue...]

OR Cities to Push Legislature on Local MJ Taxes

League of Oregon Cities

One of the ways backers of recreational cannabis sales in Oregon planned to fight the [click to continue...]