Excerpts courtesy of John Burke, Wall Street Stock Selector
On New Year’s Day of 2014, the sale of recreational marijuana became legal in the State of Colorado and as a result, “pot stocks” got quite high. Many of you probably were not even aware that “pot stocks” were being traded. Back in 2009, Medical Marijuana Incorporated (OTC:MJNA) was the first Initial Pot Offering. In February of 2014, there are a number of publicly-traded companies involved in the sale of marijuana. As a result, we may eventually see an ETF based exclusively on marijuana-related stocks.
In the meantime, a number of investors are taking a close look at the ever-growing list of companies which are involved in the sale of legal marijuana. None of these companies are listed on any major exchange and many of them are literally “penny stocks”. Nevertheless, the day may soon arrive where the retail investor could avoid the trouble of researching the multitude of cannabis companies by simply buying shares in a pot ETF and allowing the fund manager to separate the “good stuff” from the stems. FOR THE FULL ARTICLE, PLEASE CLICK HERE