Marijuana Stocks & Public Companies

Public Companies Setting Sights on Medical Marijuana Cultivation, Edibles

By Chris Walsh Publicly traded companies in the cannabis space have traditionally shied away from handling marijuana directly, focusing instead on hemp-based products and ancillary offerings such as growing equipment and real estate. That’s starting to change amid a shift in regulations and laws, growing public support and less perceived risk in general.

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SEC Suspends Trading of Cannabis Stock

The U.S. Securities and Exchange Commission has temporarily halted trading of a cannabis company’s stock over concerns that “undisclosed affiliates and shareholders” unlawfully distributed shares. Advanced Cannabis Solutions – which trades on the over-the-counter market under the symbol CANN – has been suspended until April 9 as the SEC investigates the issue. The company said […]

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HempMedsPX Inks $1 Million Order Via New Distribution Channel

Could home-based businesses – think Amway and Avon – be viable distribution channels for cannabis-related products? HempMedsPX believes so. The company has inked a two-year agreement with an unnamed “home-based business organization” to distribute industrial hemp-based, cannabidiol-rich skin care products. Cannabidiol, or CBD, is a non-psychoactive component of marijuana that provides pain relief without the […]

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Marijuana Stocks Surge 20%-80% as Investor Optimism Over Cannabis Swells

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 […]

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GrowLife Hires Former Yahoo, Microsoft Exec

California-based GrowLife Inc., which sells cultivation equipment and operates hydroponics stores across the country, has hired a former executive with Yahoo and Microsoft to join its management team. Marco Hegyi will serve as GrowLife’s president and join the board of directors, effective immediately. The hiring of a business big-wig who has worked at some of […]

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Medical Marijuana Inc. Reports $7.9M Profit

Medical Marijuana Inc. reported net income of $7.9 million in the third quarter, a nearly sevenfold increase from $1.2 million a year ago. The publicly traded company, which develops a variety of products and services for the cannabis and hemp industries, generated $10.4 million in revenue. That’s more than triple the $3 million it reported […]

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Cigarette Companies to Become ‘Budweiser’ of Marijuana?

In the coming years, major consumer-facing cannabis brands could arise as more states pass medical and recreational marijuana laws and the industry grows. And one Wall Street guru thinks he knows which companies will be behind these brands. “Who’s going to be the Budweiser of marijuana? My guess – they would all deny it – […]

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GrowLife Gets $40M Funding Commitment

GrowLife, a publicly traded company that makes software and equipment for the cultivation and sale of marijuana, will receive up to $40 million in funding from a Nevada private investment group called CANX USA. California-based GrowLife said it will use the funding make acquisitions and provide financing to cultivation operations and dispensaries in eight states […]

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Abattis Names New CFO, COO

Publicly traded Canadian MMJ company Abattis Bioceuticals Corp. has named real estate and finance veteran Rene David to the posts of chief financial officer and chief operating officer. The move comes as Abattis prepares for rapid growth amid drastic changes in the Canadian medical marijuana industry. The country has opened up its MMJ program to […]

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MedBox Hires Investment Bank for Strategic Options

Technology and consulting company MedBox Inc. announced today it has teamed up with the Santa Monica, Calif-based investment bank DelMorgan & Co to review its strategic options. MedBox said it will explore various opportunities for raising additional capital, including joint ventures, acquisitions, divestitures and strategic alliances. It also could consider an initial public offering on […]

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Week in Review: 6 Takeaways From Recent PR Ordeals + Washington Cannabis Regulations

By Chris Walsh For the second time in five months, a prominent medical marijuana company has found itself on the defensive after critical postings online set investors on edge. Earlier this week, MedBox Inc. issued a shareholder letter to rebut an investigative article painting the company and its founder in a negative light. MedBox also […]

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