Seeking Alpha

Marijuana stocks jump after Treasury Dept. sets banking rules

  • Volatile marijuana stocks have closed with big gains after the Treasury Dept. and deputy U.S. attorney general established banking regulations for licensed sellers. Notable gainers: MDBX +21.8%. MJNA +5.1%. GRNH +4.3%. AVTC +10.4%. MWIP +7.6%. HEMP +1.7%.
  • The rules allow banks to do business with marijuana sellers deemed to be obeying state laws, and not running afoul of eight principles, which include selling to minors and trafficking marijuana to states where it's illegal to do so. However, banks will have to file suspicious activity reports detailing transactions made by marijuana vendors.
  • The National Cannabis Industry Association calls the ruling, which comes six weeks after Colorado began legal marijuana sales, a "huge victory." But many observers think top U.S. banks will still tread cautiously.
  • FINRA has issued a warning about potential marijuana stock scams.
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Comments (13)
  • Yesterdays_news
    , contributor
    Comments (1591) | Send Message
     
    Will have to watch these stocks closely Tuesday morning.
    Should help the ones dealing with sales transaction services like MWIP, MDBX and others.
    14 Feb 2014, 07:40 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (10005) | Send Message
     
    I don't know how many of you remember Lou Rukeyser but I wish he was still around so I could hear him talk about "Marijuana Stocks".

     

    Boy, how times have changed.
    14 Feb 2014, 08:41 PM Reply Like
  • asms
    , contributor
    Comments (39) | Send Message
     
    In my country. they changed the name of Marijuana. the new name is maryjane.
    15 Feb 2014, 01:39 AM Reply Like
  • User 22140541
    , contributor
    Comment (1) | Send Message
     
    Old Lou wouldn't believe how broken and manipulated "markets" have become and the state of business in amerika. Rip Lou
    15 Feb 2014, 05:44 AM Reply Like
  • tractors
    , contributor
    Comments (2) | Send Message
     
    I grew up on a farm in southern minnesota. My father showed me a plant that was growing in the fence line. There used to be fence lines! He was a world war 11 vet and while stationed in Germany,He said troops smoked it. Well fifty years later if you are not in a medical approved state, you can't get a prescription to, in my case, relieve pain under my left knee cap.This will change albeit slower in some states than in others.
    15 Feb 2014, 05:49 AM Reply Like
  • Rabadaddy
    , contributor
    Comments (30) | Send Message
     
    I think its completely retarded that the US is finally legalizing marijuana and Canada has decided to take steps backwards and waste MORE MONEY trying to fight the losing battle. Crime Minister Harper needs to go.
    15 Feb 2014, 07:26 AM Reply Like
  • Wissdom
    , contributor
    Comments (7) | Send Message
     
    Just an investor who watches Penny Stocks. Remember the reason for the illegality of marijuana and Hemp is that Hemp can be used to produce clothing plastics, etc, etc. do your research. Well this is an impact on the Oil Industry. They have the big money to put a halt on the whether it be legal or illegal. It truly is all about money.

     

    At present I am in HEMP (+300%) and LAFT (+33%) but with the newest twist regarding the US Gov't opening the doors regarding the banks it can get interesting.
    17 Feb 2014, 12:22 PM Reply Like
  • rswilliams17
    , contributor
    Comment (1) | Send Message
     
    @Tractors, I must have been asleep in history class when they went over World Wars 3 through 11.
    15 Feb 2014, 12:59 PM Reply Like
  • Gumbolimbo
    , contributor
    Comments (55) | Send Message
     
    It is about time.
    15 Feb 2014, 01:11 PM Reply Like
  • Brion Eduardo
    , contributor
    Comment (1) | Send Message
     
    The marijuana industry isn't interested in Medbox at all. I have a strong hunch that Seeking Alpha has some sort of stake in it, direct or indirect, or you wouldn't promote it with such fervor.. Again, for the upteenth time, the cannabis industry isn't interested in Medbox, despite the zeal with which Seeking Alpha tries to push it on us.
    16 Feb 2014, 12:06 PM Reply Like
  • asms
    , contributor
    Comments (39) | Send Message
     
    Medbox want's to become distributor only, like the Altria Group.
    17 Feb 2014, 10:01 AM Reply Like
  • oldorv
    , contributor
    Comments (505) | Send Message
     
    I have absolutely zero interest in owning Medbox--I would finally at least look at it under a dollar...
    11 Mar 2014, 08:15 AM Reply Like
  • duskill
    , contributor
    Comment (1) | Send Message
     
    not real sure what there is to know about me just having fun playing in the market.
    27 Jun 2014, 03:08 PM Reply Like
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