Marijuana Stocks Hit Highs After Colorado Legal Pot Sales

NEW YORK: Stocks of companies involved in the marijuana industry — medical or otherwise — hit fresh highs Thursday after Colorado launched the first legal US sale of recreational pot.

Investors took the huge lines outside pot retailers in Colorado as a harbinger of potential growth in the still-new industry.

With one study predicting a $10 billion a year industry by 2018, hopes are that the legalization of private cannabis use could eventually divert the fortunes reaped by illicit growers and traffickers to shareholders.

Most of the companies involved though remain small and untested, and trade on over-the-counter markets.

The biggest gain Thursday was at the well-established MediSwipe, Inc, which sells transaction processing systems to the medical industry.

MediSwipe Inc. Announces Registered Trademark for "Mello Meal" New Medical Secure Packaging Concept for Medicinal Dispensaries

CALIFORNIA:  MediSwipe Inc. (OTCQB: MWIP), a data management solutions company for the medicinal marijuana and health care industry, today announced that the Company has recently filed for a registered trademark for its new secure medical packaging concept “Mello Meal”™ to be used at medicinal dispensaries and on behalf of patients across the United States. [Read more…]