So far, we can designate Colorado as the Marijuana Capital of the United States. As of January 1, 2014, the sale of marijuana became legal. Anyone over 21 with a Colorado ID can buy one ounce of marijuana. Each person can grow up to six plants but they must be enclosed and locked up. While the sale of marijuana is still illegal at the federal level, The US Justice Department said they would not challenge the Colorado law.
It is important to note the difference between the production and sale of medical marijuana and marijuana that is sold for recreational use. Retail marijuana will be subject to a 25% tax plus a 2.9% Colorado sales tax. The state estimates that it will gross $67 million per year with $27.5 million designated to build schools. Medical marijuana will not be taxed at the 25% rate.
Marijuana stocks are on a wild tear, many of them are penny stocks and highly speculative. Many do not have earnings reports to show growth because the industry is so new. Nevertheless, here are some for review:
Advanced Cannabis Solutions (CANN) Recent Price $6.65 52 week high/low $10.95/$1.50. The company services the regulated cannabis industry and leases growing space and equipment.
Cannabis Science (CBIS) Recent Price .$.*1166 52 week high/low is $1.90/$.02. The company focuses on research and development of phytocannabinoid science.
ENDEXX (EDXC) Recent Price $.1490 52 week high/low $.20/$.0006 The company has a proprietary platform for control, verification and service of medical marijuana.
Endocan Corp.(ENDO) Recent price $.06 52 week high/low $.25/$.0191 The company produces natural cannabis products utilizing marijuana and hemp.
Fusion Pharmaceutical (FSPM) Price n/a The company provides financing, consulting and services to medical marijuana companies.
Greengro Technology (GRNH) Recent price $.224 52 week high/low $.1.20/$.02 The company manufacturers small greenhouses for growing herbs, vegetables and flowers.
GW Pharma (GWP) Recent price $48.94 52 week high/low $49.88/$8.46 This UK company is engaged in research and development of cannabinoid medicines.
Marijuana Inc. (HEMP) Recent price $.0405 52 week high/low is $.15/$.0085 The company supplies services and related information to medical marijuana companies.
MediSwipe (MWIP) Recent price $.2880 52 week high/low is $1.274/$.0810 The company produces online wireless merchant products to record Internet “point of sale” (POS) and electronic payment processing.
Medical Marijuana (MUJA) Recent price $.1880 52 week high/low is $.50/$.0160 The company provides services, technology and business needs and focuses on hemp and marijuana.
Medibox Inc. (MDBX) Recent price $34.01 52 week high/low is $100.00/$8.11 The company provides sales and service of automated biometrically controlled dispensing and storage systems, software and consulting services to pharmacies, dispensaries, urgent care centers, drug rehabs, clinics, hospitals, prisons and hospices.
Nuvilex Inc. (NVLX) Recent price is $.13 Recent high/low is $.229/$.0250 The company provides therapeutically valuable encapsulated cells and services for treatments, research and medicine.
Rapid Fire Marketing (RFMK) Recent price $.0011 52 week high/low is $.0045/$.0002 This is a holding company for several businesses. Its main product is a vapor inhaler.
Terra Tech (TRTC) Recent price $.2930 52 week high/low $.6600/$.0575 The company provides solutions for horticulturists, engineers, scientists and farmers.
As you can see many of these companies are highly speculative. Some may do well and others may bite the dust. Extreme caution is advised. This discussion certainly is neither a recommendation to buy or sell any of these securities. You must always do your own diligent research.