http://www.mercurynews.com/california/ci_25174969/major-marijuana-legalization-measure-off-table-2014
This leaves Alaska as the most likely candidate to legalize the stuff in 2014. No specifics were given (nor could I find any) as to why the idea was put on hold. However, this caused waves with the industry-related equities, as most of the major stocks are down.
It is the author's personal opinion that the stocks will go down further, for a few days at minimum.
Thursday, February 20, 2014
Sunday, February 16, 2014
Obama gives green light to banks to accept funds from legal marijuana sales (POLITICS)
http://www.washingtonpost.com/business/economy/obama-administration-clears-banks-to-accept-funds-from-legal-marijuana-dealers/2014/02/14/55127b04-9599-11e3-9616-d367fa6ea99b_story.html
While it is not my place to comment on the legislative circles Obama jumped through to make this happen, it is a good thing nonetheless.
This probably will cause the markets to move. In which direction? I haven't a clue.
While it is not my place to comment on the legislative circles Obama jumped through to make this happen, it is a good thing nonetheless.
This probably will cause the markets to move. In which direction? I haven't a clue.
Friday, February 14, 2014
Wall Street Journal Market Watch writer on marijuana related stocks; what do you think? (INVESTING)
This isn't what I plan on doing for the remainder of my time with this blog, but I felt the need to write what I'm about to write after reading this article because I feel it needs clarifying. He (the author of the article) says you've got to "be a dope" to buy into Marijuana related stocks. He's both correct and incorrect. Here is the link.
http://blogs.marketwatch.com/cody/2014/02/13/you-have-to-be-a-dope-to-buy-marijuana-stock/
For one, the market isn't even two months old - it's still in its infancy and not developed, so naturally there will be winners, losers, scammers, etc This is without question. NOBODY knows the future of this industry, nobody in Washington, Colorado, or in Congress, for that matter. Think of the following question: will the plant become legalized in the future? Maybe, and it might happen within my lifetime. But will states or nations look at what is happening in Washington and Colorado (and Uruguay) and take note? Yes. As such, the economics of marijuana are subject to speculation and change. Can one make money buying stock related to these industries and make money now? Yes. Is a stock, such as MJNA, a cheap option for someone looking for some quick returns? Depends, and if you've got the money to blow, sure. Is it dumb to bet the house and spend thousands of dollars on any penny stocks? Yes.
However, he does mention that for the well-informed, there is money to be made. This is a fast-growing industry. There are people making money in this space and there will be people who make money in this space. Those who are active in sourcing news related to Marijuana and Hemp will probably be able to make some money if they understand what makes the industry-related stocks move (hint: investing shortly before state or federal elections or voting referendums are set to happen), or find a new space to operate in, then success could be attained.
Also, a quick note that I've gotten in touch with a tech startup in Denver called Cannabase, who are developing a browser-based service that connects wholesale growers to wholesale buyers (such as dispensaries, cooks, legal storefronts, etc...) in Colorado and will be conducting a full-on interview on Monday, February 24th.
http://blogs.marketwatch.com/cody/2014/02/13/you-have-to-be-a-dope-to-buy-marijuana-stock/
For one, the market isn't even two months old - it's still in its infancy and not developed, so naturally there will be winners, losers, scammers, etc This is without question. NOBODY knows the future of this industry, nobody in Washington, Colorado, or in Congress, for that matter. Think of the following question: will the plant become legalized in the future? Maybe, and it might happen within my lifetime. But will states or nations look at what is happening in Washington and Colorado (and Uruguay) and take note? Yes. As such, the economics of marijuana are subject to speculation and change. Can one make money buying stock related to these industries and make money now? Yes. Is a stock, such as MJNA, a cheap option for someone looking for some quick returns? Depends, and if you've got the money to blow, sure. Is it dumb to bet the house and spend thousands of dollars on any penny stocks? Yes.
However, he does mention that for the well-informed, there is money to be made. This is a fast-growing industry. There are people making money in this space and there will be people who make money in this space. Those who are active in sourcing news related to Marijuana and Hemp will probably be able to make some money if they understand what makes the industry-related stocks move (hint: investing shortly before state or federal elections or voting referendums are set to happen), or find a new space to operate in, then success could be attained.
Also, a quick note that I've gotten in touch with a tech startup in Denver called Cannabase, who are developing a browser-based service that connects wholesale growers to wholesale buyers (such as dispensaries, cooks, legal storefronts, etc...) in Colorado and will be conducting a full-on interview on Monday, February 24th.
Monday, February 10, 2014
Check this out! (MISC.)
Got sent this the other day, pretty cool stuff
http://videos.huffingtonpost.com/weed-on-wheels-pot-lollipop-vans-open-shop-in-nyc-517851256
Pretty interesting idea. I wonder who will try something similar in Colorado or Washington?
Wednesday, February 5, 2014
Alaska petition to put Marijuana legalization on August ballot has pass all required thresholds. (POLITICS)
Title says it all! Per the Anchorage Daily News:
http://www.adn.com/2014/02/04/3306814/its-official-alaska-marijuana.html
The vote is set for August 19th, 2014
http://www.adn.com/2014/02/04/3306814/its-official-alaska-marijuana.html
The vote is set for August 19th, 2014
Farm Bill legalizes the production of industrial hemp. (POLITICS, INVESTING)
President Obama is expected to sign the bill, which legalizes hemp production for states that have already passed measures legalizing hemp. Those states are (so far) California, Colorado, Kentucky, Maine, Montana, North Dakota, Oregon, Vermont and West Virginia. In anticipation of the bill passing, the Hemp Inc. stock (ticker: HEMP) shot up to a new high, raising 418% since February 3rd.
Source:
http://www.marketwatch.com/story/victory-for-hemp-farmers-as-us-house-of-representatives-legalizes-the-cultivation-of-hemp-2014-02-03?reflink=MW_news_stmp
White House Office of National Drug Control Policy's Michael Botticelli gets taken to school by Congressional subcommittee (POLITICS)
http://www.c-span.org/video/?317590-1/MarijuanaPo
Worth a watch. There's a more condensed version floating somewhere around C-Span's website.
To summarize, congressmen on both sides feel Marijuana isn't as dangerous and addictive as Meth or Heroin, and doesn't deserve to be in the same schedule as the two.
Worth a watch. There's a more condensed version floating somewhere around C-Span's website.
To summarize, congressmen on both sides feel Marijuana isn't as dangerous and addictive as Meth or Heroin, and doesn't deserve to be in the same schedule as the two.
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