The First Pot Stock Billionaire Says His Penny Stock Could Be A Little High

The average daily volume of about 10,900 shares has been light this year, but someone is buying the stock and the $117 it closed at on Friday makes Mackay the world’s first pot stock billionaire thanks to his 15.7 million shares in CannaVest.

NEVADA:  You have probably never heard of Bart Mackay, a 57-year-old Las Vegas lawyer who works on various ventures like Dot Vegas, which operates the .Vegas top-level domain. But on paper, Mackay is the first pot stock billionaire.

Mackay’s holdings in CannaVest, which bills itself as the world’s leading hemp-based investment company, are valued at $1.8 billion. That figure might seem like a drug-induced hallucination, but it’s technically true. CannaVest is the top-performing stock in America in 2014 with a market capitalization greater than $1 billion.

Its thinly-traded shares, which change hands on the Over-The-Counter Bulletin Board, have soared by 680% in the last year. They are already up more than 300% in 2014. The average daily volume of about 10,900 shares has been light this year, but someone is buying the stock and the $117 it closed at on Friday makes Mackay the world’s first pot stock billionaire thanks to his 15.7 million shares in CannaVest.

Read full article @ Forbes

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