Marijuana Penny Stocks Bill
The first official attempt at rescheduling marijuana hit Congress this week with the introduction of a bill by a congressman from Virginia. HR 4498, the Legitimate Use of Medical Marijuana Act, would allow for the rescheduling of cannabis to a classification that includes medicinal use for the plant. While there has been much talk around Capital Hill about the merits of and changing attitudes towards cannabis, I commend Congressman Morgan Griffith for taking an active role in progressing efforts one large step forward towards becoming a reality.
HR4498 – Bill to reschedule MJ introduced in Congress
MJ Stocks Still Suffer Increased Scrutiny and Dank Doubts – The Street
This week, I want to share some of my perspective on the MJ sector, what we have been through recently, and where I think we are going. I will also share a bit more about myself, my investing perspectives, and why I started this project.
I have been investing in stocks for 14 years now and in 2014, the gains and volatility I have experienced trading in the Marijuana stocks sector have put any other year I have been investing in to shame. Before investing in this sector, my largest gains came from a long-term investment in GE that yielded 85% and a timely investment in Facebook that eventually net me 205%. Since discovering, researching, and investing in MJ stocks starting in March of last year, these investments have become extremely rewarding, with some of my positions reaching highs close to 1600%.
While my previous record of a 205% gain in a security has been significantly ‘smoked’ by some of my MJ investments, I have continued to look for more winners that could represent these types of monstrous returns over time. And although the last month has been a major correction for the sector as a whole, I continue to see the potential for large gains to be made as industry leaders are hashed out and as marijuana continues to make further progress on the state and federal levels in the US as it continues to in Canada.
Knowing that marijuana stocks are going to represent several billions of economic impact as the changing legal landscape permits, I continue the hunt for companies that are working to build business models that I believe will greatly benefit over time. To be clear, the companies I have become most interested in carrying their own risks, but I do believe that they stand far above 100+ other companies that claim to be associated with marijuana or hemp in some way.
While the last roughly six weeks have been a large correction for the overall stock market, the MJ sector stocks have taken a severe beating as selling was compounded due to fears resulting from CANN and PHOT’s consecutive and shocking suspension which resulted in a sort of a ‘sector-wide shakedown.’
This time of fear and unknowns have presented us with what I believe has been an opportunity to buy shares in …