Preferred Penny Stocks Header
New Pick Coming Soon!
As an added service to our subscribers, we will be highlighting different industries and sectors that are seeing a lot of activity in the markets. Today we decided to reach out about an industry that is in the television and print news every day it seems.
Since early 2013 medical marijuana stocks have been the talk of the market. We have seen a lot of crazy action in their stock prices and it seems clear that this topic is not going away any time soon.
Last February Medical Marijuana, Inc. (MJNA) burst onto the scene and showed investors gains of around 200% in just a couple of weeks. In the past year, several other players have experienced similar boosts in their stock price with some of the most notable being Medbox (MDBX), HEMP INC (HEMP), Cannabis Science Inc. (CBIS).
If you have not been following this marijuana micro-cap boom, you may be asking what has caused it.
The simplest explanation is that currently 21 states, along with Washington DC, have enacted laws to legalize marijuana to varying degrees. But the most important cause of the current boom was the late 2012 legalized “recreational” use laws passed in Colorado and Washington. While those two states are the only states that have taken this step, it appears many others may soon follow as most polls show the majority of the American public strongly in favor of state and federal legalization.
It is also going to be very interesting to watch for the evolution in other segments of the industry as companies that service the growth and general distribution of marijuana begin to sprout up.
One such company that we have watched with interest recently is Tranzbyte Corporation (ERBB), which recently jumped from a sub-penny stock to a high of over 11 cents. This company just unveiled a marijuana vending machine in Colorado and was just highlighted on both CNBC and Fox Business this week.
In addition TRTC went from around $0.10 to over $1.40 in the past couple of months!
As more states follow suit and more business opportunities spring up to service this growing industry we would not be surprised if the biggest explosion is still yet to come.
We will be reaching out again soon with more market analysis and information and we hope that our subscribers find this added service helpful.
Thanks and be on the lookout for more updates in the near future.
PreferredPennyStocks.com
