Jul. 7, 2014, 8:08 PM
- As expected, New York Governor Andrew Cuomo signs the medical marijuana bill that passed the State Senate 49 - 10 in June. The state is the 23rd to allow access to medical cannabis, albeit only via vaporizing, oils and edibles. No smoking allowed.
- Related tickers: (AEGY) (MDBX) (AVTC) (CNAB) (ERBB) (GDSM) (HPNN) (LATF) (MJNA) (PLPL) (VAPE) (VAPR) (VPCO)
Jun. 23, 2014, 10:53 AM
- New York State Senators vote 49-10 in favor of allowing limited access to medical marijuana. The bill would allow patients to inhale vaporized extracts of weed's active ingredients or eat them in food. Smoking marijuana would be prohibited, however. The State Assembly passed the measure 117-13 on Friday.
- The state's Health Department will have the task of setting up the program.
- (AEGY) (MDBX -2.4%) (AVTC +3.9%) (CNAB -1.2%) (ERBB +13.2%) (GDSM -16.7%) (HPNN) (LATF +2.2%) (MJNA -0.5%) (PLPL -4.1%) (VAPE +2.6%) (VAPR) (VPCO +2.9%)
May. 16, 2014, 7:02 PM
- AVT (AVTC) enters into an agreement with Opticwash to build 1,000 Opticwash Self-Service Eyeware Cleaning System machines over the next 12 months. The contract includes a "value engineered" redesign of the prototype machine which AVT will begin working on immediately. No financial terms are disclosed.
May. 9, 2014, 12:09 PM
- At last night's GeekWire Awards ceremony in Seattle, Leafly won App of the Year. The mobile app, described by some as the "Yelp of cannabis" helps pot consumers stay informed about cannabis strains, products and the best places to purchase them. It also connects patients to doctors who can assist them through the medical authorization process. It contains over 100K user-generated reviews of more than 800 cannabis strains as well as thousands of dispensaries and doctor locations around the world. GeekWire praised its functionality and clean professional appearance.
- Leafly founder Cy Scott says, "Our team is truly honored to receive this award. When we released the app, our goal was to offer a simple way for medical and recreational cannabis consumers to get robust information at their fingertips. This award is a win for all who support the cannabis movement."
- (MDBX) (MJMJ) (REFG) (SKTO) (ERBB) (CBCA) (AVTC) (AEGY)
- ETFs: IYH, XLV, VHT, CURE, FXH, RXL, FHLC, PSCH, RYH, PTH, RXD
Mar. 21, 2014, 9:47 AM
Feb. 14, 2014, 4:04 PM
- 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.
Jan. 9, 2014, 5:25 PM
- Medical Marijuana (MJNA +4.3%) is up 25% YTD on the pink sheets as investors continue making speculative bets on pot-related plays following the start of legal marijuana sales in Colorado on Jan. 1.
- On the other hand, several peers gave back a big chunk of their recent gains today: GRNH -52.4%. AVTC -15.8%. MDBX -18.6%. HEMP -24.1%. MWIP -21.9%.
- But GW Pharmaceuticals (GWPH +23.5%), a more established name that yesterday priced a 2.4M-share follow-on offering at $36, went in the other direction.
- With demand outstripping expectations, Colorado is (for now) arguably seeing the marijuana equivalent of the 1970s oil crisis: Long lines, shortages, rationing, and soaring prices have become the norm for licensed dispensaries.
- Words of caution from seasoned investors about putting money into pot plays are easy to find. Fund manager Frank Igarra: "There might be one or two that survive, but having seen crazes like this, people have been burned by them a lot. The average investor should think twice."
- FINRA issued a warning in August about potential marijuana stock scams.
Jan. 7, 2014, 3:26 PM
- Shares of AVT (AVTC +125.2%) and Medbox (MDBX +65.5%) shares surge on continued marijuana-legalization news euphoria, small floats, and an announcement that the 2 companies have worked together to "improve our systems with electronic and biometric locks, which would aid in the safety and security of the marijuana products."
- Medbox has also ordered 2 "containers of machines" from AVT to have a ready supply of machines - Medbox has received "well over 200 machine orders."
Dec. 13, 2012, 12:31 PM
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