Legal marijuana is quickly making its way across the United States. As soon as it was legalized for medical use in many states, it was only a matter of time before people would try to get it legalized for recreational use.
So far, only two states have legalized marijuana for recreational use: Washington and Colorado. Nineteen other states have legalized it for medical use, and many of them are working towards full legalization with recreational use.
What does this mean for the marijuana industry?
Well, when more people can use marijuana, more will have to be available. This will boost production and the price of the substance – and more money will be poured into production and dispensing.
That’s why wise investors are starting to open their eyes to this blossoming investment opportunity.
Medical Marijuana Inc. (OTC: MJNA)
If you’re not convinced recreational use will catch on as quickly as medical marijuana has, you may want to start investing in Medical Marijuana Inc.
It’s growing by leaps and bounds, with an increase of 28.22% this year and approximately 6.2 million shares trading each day. It has a market cap of $122.58M. This massive growth has to do with the patented and proprietary-based cannabinoid products it manufactures. The company is also involved in hemp markets, which have received much more attention since the debate over marijuana legalization started.
Medical Marijuana provides products such as seeds, stalks, and extracts to pharmaceuticals, nutraceuticals, and cosmeceuticals, which is why it’s in a good place for early investors in the marijuana industry. It has its hands in many different industries, making it possible for the company to make more money for itself and you.
Cannabis Science (OTC: CBIS)
Cannabis Science is one of the most popular medical marijuana stocks right now. It’s led by a well-known scientist by the name of Robert Melamede, who is an expert in cannoboid research. This company delves mostly into biotech and pharmaceuticals, aiming to have products approved by the Food and Drug Administration.
The company has a market cap of $24 million, and like all marijuana stocks, it’s been volatile. While it’s down about 34% now, it was up 90% back in February.
Why invest in this stock even though it’s been down? Buying low is the way to play the investment game. The company knows it needs to find a way to get more revenue, and with news of medical marijuana legalization increasing along with recreational use, it’s only a matter of time before this stock takes off again.
Medbox Inc. (OTC: MDBX)
Here’s a new one for you that will surely be increasing in value in the coming years – Medbox Inc. Imagine a vending machine for marijuana. All you have to do is approach this machine, scan your fingerprint, and receive your marijuana.
It was invented by Bruce Bedrick, a 44-year old chiropractor who is an occasional marijuana user. During the past year, the shares went from $3 to $215, and right now they’ve settled around $19.
Medbox is currently only available at state-licensed marijuana dispensaries, such as those in Washington, Oregon, Nevada, California, Arizona, New Mexico, Colorado, Illinois, Michigan, Maine, Rhode Island, and more. But it’s growing in popularity as medical marijuana legalization is, and once recreational use of marijuana makes its way into each state – as you know it will – Medboxes will be sure to follow.
It’s an ingenious idea, really. By providing marijuana conveniently, patients can get what they need simply. For recreational use, people will be able to head out to a Medbox and grab their stash.
Think it’s ridiculous? Don’t. It’s going to happen, and you might as well make some money off of it.
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Beware of Scams
Since marijuana stocks are so volitile right now, there are risks. Before you invest in marijuana stocks, do your research. The Financial Industry Regulatory Authority (FINRA) has alerted investors of “pump and dump” schemes:
“Fraudsters lure investors with aggressive, optimistic—and potentially false and misleading—statements or information designed to create unwarranted demand for shares of a small, thinly traded company with little or no history of financial success (the pump). Once share prices and volumes reach a peak, the cons behind the scam sell off their shares at a profit, leaving investors with worthless stock (the dump).”
Don’t buy into just any hype. Listen to information, go back and research, and then make your own decision. It can be hard to look away from people who want to push you towards a scam stock, but be strong and do what is right for your portfolio.
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