Tuesday, January 7, 2014

Pot Boom- Stocks

Pot Bloom Stocks

The long lines stretching around Colorado marijuana shops have apparently not gone unnoticed by investors, with the price of shares for cannabis-related companies skyrocketing since the drug became legal throughout the state on January 1.

One of the claims most often cited by marijuana legalization advocates is how profitable the policy would be both for state governments and the local economy. While a sample size of just a few days is small, the initial success indicates the claims may prove to be true.

A study cited by AFP estimated that the Colorado state government could reap an annual $10 billion by 2018, but private companies already have reason to celebrate. MediaSwipe Inc, which has built a business on selling transaction processing systems to the medical industry and now works with cannabis stores, has seen its shares jump 88 percent over the past month of trading and 69.4 percent on Thursday alone.

Sharing the sudden success is GreenGro Technologies, a growing equipment dealer, with share prices rising 52.3 percent to 6.7 cents. Medical Marijuana Inc, a California grower of medical marijuana, also saw an increase, up 22 percent to 18.9 cents. 

Channel “RT TV” 

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