Cannabis Stocks Flying High At The Start Of The New Year

Business
Cannabis Stocks Flying High At The Start Of The New Year

Historic events currently unfolding in Colorado have injected a new surge of confidence in the cannabis industry as a viable investment opportunity, and with confidence in an industry comes an uptick in stock prices for the companies in that industry.

The marijuana industry is no different. Many cannabis-related stocks saw a surge of 20% or more during trading on Thursday, with some companies seeing an increase in price of as much as 80% (MediSwipe). Cannabis Science and GreenGro Technologies saw increases of more than 70% while Medbox - makers of marijuana vending machines - saw an increase of roughly 60%.

While stock prices are always volatile - and even more so in a legally ambiguous industry like cannabis - price surges at the very least mean that more investors are taking the legal marijuana industry seriously. And without the much-needed capital that investment brings, even an industry as promising as legal marijuana will have trouble getting off the ground and moving forward.