Jun. 7, 2014, 4:37 PM
- Yesterday, the SEC suspended trading in shares of SK3 Group (SKTO) under trading halt code H10 ("trading suspended until further notice"). According to a press release from the company, the suspension may be in effect until June 19, 2014. It received no advance warning from the regulator that it was suspending trading in its shares and it does not know the specific reason(s) for the halt, although it acknowledges the trading halts of other cannabis industry companies.
- Longs should expect a substantial down move when trading resumes.
May 22, 2014, 10:16 AM
- According to Florida-based Novus Medical Detox, today's marijuana is much more potent than the varieties available a generation ago. This poses significant health risks to consumers as the wave of legalization gains momentum.
- In a study by the University of Mississippi Potency Monitoring Project, the level of weed's main psychoactive ingredient, THC, has increased from 3.4% in 1993 to ~9% in 2008. In sinsemilla (the flowering tops of unfertilized female plants) THC levels have jumped from 5.8% to 13.4%. The lab has identified THC concentrations as high as 37% in certain pot strains.
- The controversy surrounding the legalization of marijuana will no doubt intensify as the health risks of consuming ever-higher levels of THC in cannabis become more widely known.
- Related tickers: (AFAI) (MDBX) (MJMD) (VAPR) (MJNA) (PLPL) (RFMK) (SKTO) (VMGI) (VAPE) (LATF) (HPNN) (NTRR)
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
May 7, 2014, 9:01 AM
- Minnesota state senators vote 48-18 in favor of legalizing physician-prescribed medical marijuana. The bill will permit up to 55 dispensing centers around the state although the health commissioner could approve additional sites.
- Patients could legally possess up to 2.5 ounces of pot to be ingested in pills, oils or vaporized just shy of combustion. Smoking weed would still be illegal.
- The bill allows for a research study to assess the effects of medical marijuana in pill or liquid form in patients with severe illnesses.
- The Senate's version differs from the House's version so more work needs to be done before it passes over the Governor's desk.
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