There's a ton of smoke billowing from a small fire right now. Medical marijuana was a big first, but the bills passed for recreational use in Washington and Colorado are huge. The amount of revenue these states stand to make, coupled with the current state of the US economy is already starting a domino effect. Rhode Island, Maine, Vermont, and Massachusetts are introducing bills now and there is a rumor of Ohio also wanting to give it a go. It is becoming as much of a money issue as it is a moral issue. Between the support marijuana is getting from the people along with the amount of money states stand to make off it's legalization, I think things are going to start moving really fast. Too fast for the federal government to do anything about it.
In regards to stocks I think we are all on board at the ground level. Some people are going to day trade this sector and hopefully they do well with it, but it's also going make these stocks rise and fall by large percentages.
If you're new to stocks don't let this scare into taking a loss. Anyone who has bought in at the current level at some point will be able to sell their shares off for a profit over the next couple of weeks. In my opinion though the long is going to pay off big time for everyone who just wants an investment and doesn't allow the fluctuations to rattle them.
I don't think it will be too much time before more and more longterm investors buy up these shares and start to hold them. Once that happens we'll see this stock rise and steady out. This is when some day traders are going to get burned. When they sell off their shares at a peak thinking the rest of us are suckers and they're going to buy them back at the next big dip. Only to realize too late that the shares they sold are being held and the price isn't ever coming back down, but making it's rise to the next level and they're now left out.
This company is making money and with the new laws that are getting passed they are only going to make more. Anyone who thinks otherwise, well just think about it. It doesn't make any sense.
