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.