Dude, weed business shares are up, like, 3000 percent11/17/2012
What were they smoking? Investors in a medical marijuana dispensary business drove the company’s stock price up 3,000 percent this week, despite warnings from the firm’s own founder that it was worth a fraction of that. The price of Medbox stock was $4 a share on Monday, when a widely read finance blog tipped the company as a means to invest in legalized marijuana. In just one day, the stock hit a high of $215, making a $45 million company worth $3.2 billion on paper, overnight. But don't drop everything to call your broker — the madness has subsided, and the stock’s closing price was a mere $20 as of Friday. But hey, that's still more than twice what Medbox's own founder thinks it's worth. [Source]
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Would you invest in companies that sold legal marijuana?