I disagree. For news to be "priced-in" there needs to be a certain level of general public awareness in the stock.
Sure, AAPL news gets priced-in before new product releases because every hedge fund, pension fund and joe-schmoe with an IRA owns shares. So they constantly adjust positions based on blogs, rumors and competition.
The awareness of a penny stock like this one is so small on the grand scheme of things that there is a LOT of potential unrealized demand for shares.
I live in CO and grew up in N. VA. When I go home people almost don't believe me when I tell them about the flourishing MMJ industry; all the jobs, dispensaries, new products, marketing, etc...
Most people in America had NO IDEA there was even a legitimate industry, let alone the existence of one stock! Before the election most folks in the east didn't even know about these ballot issues. There's no way they were priced-in.