Merrill Lynch Is Bullish On Marijuana

NEW YORK: The investment arm of Bank of America, Merrill Lynch, sent out a 45 page equity report last week focused on prospects related to marijuana.

Carefully researched, it was an interesting peek at how heavy hitters on Wall Street are starting to view the expanding industry. The document is not publicly available. It was leaked to this writer by an individual who received the report as a member and investor.

Among the pages were extensive, basic information about cannabis and the cannabinoids THC and CBD. There was also a comprehensive outline on the patchwork of state medical cannabis laws. Further within the document there was an overview of the benefits for a long list of medical conditions, some public polling and then tantalizing information about publicly traded companies already operating in the sphere.

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.

Don’t Get Burned By Marijuana Investment Scams

NEW YORK: It’s not exactly corn or wheat, but marijuana is now a cash crop that generates a staggering amount of money in the U.S. each year — $40 billion and growing by one estimate.

The feds still classify cannabis as an illegal drug, but medical marijuana use is now permitted in about 20 states and the District of Columbia. Recreational use is legal in Washington and Colorado. [Read more…]