12 Marijuana Stocks For Your Do Not 'Buy And Hold' List - Part V

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Includes: ACOL, AERO, AGTK, AMMJ, ATTBF, AVTCQ, BAYP, BLPG, BNRDF, BRDT, BTFL, CANL, CANN, CBDS, CBGI, CBIS, CGRW, CHUM, CNBX, CVSI, EAPH, ECIGQ, EDXC, ENRT, ERBB, FITX, FSPM, FWDG, GRCU, GTSO, GWPH, HEMP, ICBU, IMLFF, LATF, LGBI, LXRP, MBOO, MCIG, MDCN, MJNA, MYEC, NDEV, NGBL, NMUS, NTRR, OGRMF, PHOT, PMCB, PMCM
by: Anthony Cataldo

Summary

I have selected a fifth set of 12 marijuana stocks to research to include in a portfolio test of “the January effect” for all N=60 stocks, with compelling results.

It may not be possible to construct a portfolio comprised of marijuana stock “pure plays” likely to yield abnormally high returns until the next big event - November 2016 elections.

In this installment, I am focusing on the seasonal patterns, which continues to include an examination of March 2014 and the MMPR and the “in progress” January effect.

Fundamentals, in this sector, appear to be irrelevant – portfolio construction should be focused on legislative event dates, where portfolios are developed, initiated and liquidated, without any long-term hold.

Additional Disclosure: I do not have and will not invest any money in any of these stocks. I never have and do not short penny stocks. I am developing this portfolio to learn and prepare for the next big event date, which might not be until November 2016 U.S. elections.

Buying and holding marijuana stocks, at this point in time, is like investing in U.S. Treasury Securities - returns approximate zero, we haven't gone broke, yet, and you are looking for "the best house in a bad neighborhood."

I hope you find the seasonal patterns and state of incorporation partitions examined in this article of interest. I was quite surprised. I might develop future articles and the expanded portfolio on an examination or partitions of those firms (1) with positive and negative working capital (fundamentals) and (2) with and without toxic convertibles (fundamental, but insider controlled).

Fundamentals are interesting, but are not driving results for most of these marijuana stocks, particularly in those cases where toxic convertibles are being dumped into rallies controlled by the same insiders controlling news releases and holding these unrestricted securities. The focus, therefore, might have to be redirected from fundamentals to the identification of those insiders with a proven history and willingness to allow the stock price-per-share to "run" for a bit of time before dumping their personal shares into the rally. If too many are holding these shares, and if they are not restricted shares, a case of the "prisoner's dilemma," not unlike the behaviors of the oil cartels (before low oil prices), takes over, and this cannot be controlled, even by insiders. Once they realize this, they simply dump into each and every rally.

Seasonal Patterns - An Extension

The below chart illustrates the 2014 52-week highs for N=60 marijuana stocks and the combined impact of (1) November/December tax loss selling for 2013, (2) the 2014 January effect, (3) the January through March 2014 penny stock season, and (4) the March 2014 Canadian MMPR sequence of events, (5) followed by some positioning for an anticipated favorable November 2014 election for marijuana decriminalization in Oregon, Alaska and D.C.:

Notes: The above bar chart was generated and based on data available after the market close on January 9, 2015. This stacked bar chart was developed and is based on data contained in the below table.

The List of ([ n=12 + n=12 + n=12 + n=12 + n=12 ] = [ N=60 ]) Marijuana Stocks

Again, and just as was the case of Part I, Part II, Part III, and Part IV, the stocks are listed in alphabetical order of the ticker symbol. The table has, again, been designed so that it captures a significant amount of data, and you can print it out and use it to formulate your own opinions on these stocks. The first 12 stocks from Part I have an roman numeral one or "I" prefix in the far left column, the second 12 stocks have a roman numeral two or "II" prefix, the third 12 stocks have a roman numeral three or "III" prefix, the fourth 12 stocks have a roman numeral four or "IV" prefix, and the fifth 12 stocks, included in this latest installment, has a roman numeral five or "V" prefix. The below table, also, contains the data from which the above graphic was developed:

       

52-Week

 

Part

Ticker

State

WC

High 2014

Notes

II-1

(OTCPK:ACOL)

FL

-

19-Mar

1

II-2

(OTCQB:AERO)

NV

-

10-Mar

 

II-3

(OTCPK:AGTK)

DE

-

6-Jan

 

III-1

(OTCPK:AMMJ)

DE

+

17-Oct

1

II-4

(OTCQB:ATTBF)

Canada

+

19-Mar

 

V-1

(AVTC)

NV

+

6-Mar

 

II-5

(BAYPD)

NV

-

1-Sep

2

III-2

(OTCPK:BLPG)

NV

-

1-Jul

1

IV-1

(OTC:BNRDF)

Canada

+

14-Sep

1

I-1

(OTCQB:BRDT)

DE

+

19-Mar

 

IV-2

(OTCPK:BTFL)

NV

-

29-May

1

III-3

(OTCPK:CANL)

NV

-

8-Jul

1

V-2

(OTCQX:CANN)

CO

+

5-Mar

3

III-4

(CANV)

DE

+

21-Feb

 

V-3

(OTCQB:CBDS)

NV

-

16-Jan

 

I-2

(OTC:CBGI)

NV

-

18-Mar

3

V-4

(OTCPK:CBIS)

NV

-

6-Feb

 

IV-3

(OTCPK:CGRW)

DE

-

31-Dec

1

V-5

(OTC:CHUM)

NV

-

29-Aug

1

V-6

(OTCQB:CNBX)

NV

+

15-Jul

 

IV-5

(OTCPK:EAPH)

WY

-

15-Jul

1

IV-6

(ECIG)

NV

-

7-Mar

 

V-7

(OTCPK:EDXC)

NV

-

14-Jul

1

IV-7

(OTCQB:ENRT)

NV

+

19-Mar

 

I-3

(OTCPK:ERBB)

NV

-

24-Mar

 

III-5

(OTC:FITX)

NV

-

10-24 Feb

1

V-8

(OTC:FSPM)

NV

-

5-Mar

3

II-6

(OTCPK:FWDG)

DE

-

17-Jul

1

I-4

(OTCPK:GRCU)

CO

+

7-Apr

 

IV-4

(GTSOD)

DE

-

29-Sep

 

III-6

(NASDAQ:GWPH)

UK

+

1-Jul

 

III-7

(OTCPK:HEMP)

CO

+

5-Feb

 

I-5

(OTCPK:ICBU)

FL

-

24-Mar

 

II-7

(OTCQX:IMLFF)

Canada

-

21-Oct

1

V-9

(OTCPK:LATF)

DE

-

16-Jul

1

I-6

(OTCPK:LGBI)

NV

-

25-Jul

1,2

I-7

(OTCQB:LXRP)

NV

+

19-Mar

2

II-8

(OTC:MBOO)

NV

-

Unknown

1,2

II-9

(OTCPK:MCIG)

NV

-

19-Mar

 

III-8

(MDBX)

NV

-

17-Jan

 

IV-8

(OTCQB:MDCN)

NV

-

10-Apr

 

III-9

(OTCPK:MJNA)

OR

+

28-Jan

 

V-10

(OTCPK:MYEC)

WY

-

24-Oct

1

I-8

(OTCPK:NDEV)

NV

+

26-Aug

 

III-10

(OTCQB:NMUS)

NV

+

1-Dec

1

IV-9

(OTCQB:NTRR)

FL

-

3-Feb

 

III-11

(NVLX)/(OTCQB:PMCB)

NV

+

28-Feb

 

IV-10

(OTCQB:OGRMF)

Canada

-

17-Sep

1

V-11

(OTCQB:PHOT)

DE

-

17-Mar

3

II-10

(OTCPK:PMCM)

DE

-

26-Mar

 

V-12

(OTC:PTOG)

NV

-

13-Mar

3

I-9

(OTCPK:REFG)

NV

+

14-Mar

2

II-11

(OTCQB:RSSFF)

Canada

+

10-Jun

1,2

I-10

(OTCQB:SING)

NV

-

10-Jan

 

I-11

(OTCPK:SPRWF)

Canada

+

22-Oct

1,2

IV-11

(OTCQB:SRNA)

NV

-

31-Mar

1

I-12

(THCZ)

NV

-

12-Aug

1

III-12

(OTCQB:THXBY)

Israel

-

6-Jan-15

1

IV-12

(TWMJF)

Canada

+

8-Apr-15

1

II-12

(OTCPK:UPOT)

NV

-

26-Mar

1,2

1 = no established trading in March 2014; excluded from graphic.

2 = moved from mining to marijuana sector.

 

3 = SEC trading halt.

       

Working capital (WC) measures ("+" for positive and "-" for negative) were developed on January 12, 2015, and are based on the measures and data available from Yahoo!Finance and Pink Sheets web sites. Twenty-one of the sixty firms (~35%) have positive WC and thirty-nine (~65%) have negative WC.

Results from N=60 Marijuana Stocks and "Tax Loss Selling" of "Losers"

The below results are remarkable! Unless I have made an error, each and every single one of the N=60 marijuana stocks in the portfolio that I have been building is a calendar year 2014 "loser" and a "tax loss selling" candidate. I will not bother to compute the probability of these results and their potential for random occurrence, despite the fact that the sample is large, since the sample or portfolio is not random.

I will assume that all know that the overall market was up in 2014 and just how difficult it is to lose money on each and every one of N=60 stocks contained in a portfolio, randomly selected or otherwise.

Effectively, a value-weighted portfolio of these stocks, assuming zero commission (or friction) and purchased at their 52-week high (presumably, an upside over-reaction), would have converted a portfolio with a value of $621 to $99 at or about calendar year end for 2014 (~84% loss).

You can attempt to replicate this methodology to other portfolios or to your actual 2014 portfolio to assure yourself that these results are extraordinary atypical. The "trading strategy" for marijuana stocks is becoming clear, but only if I get what I predict will be the results from the "January effect," which remains "in progress" through the 10th trading day of the new calendar year.

 

52-wk Hi

30-Dec-14

TLS

Ticker

2014

Close

Candidate?

ACOL

$5.00

$0.03

Yes-"Loser"

AERO

$10.45

$3.72

Yes-"Loser"

AGTK

$0.53

$0.06

Yes-"Loser"

AMMJ

$1.89

$0.60

Yes-"Loser"

ATTBF

$2.78

$0.14

Yes-"Loser"

AVTC

$5.56

$1.36

Yes-"Loser"

BAYPD

$0.52

na

Yes-"Loser"

BLPG

$25.00

$0.25

Yes-"Loser"

BNRDF

$1.06

$0.66

Yes-"Loser"

BRDT

$0.89

$0.08

Yes-"Loser"

BTFL

$1.67

$0.43

Yes-"Loser"

CANL

$2.43

$0.91

Yes-"Loser"

CANN

$64.64

$1.00

Yes-"Loser"

CANV

$201.00

$2.40

Yes-"Loser"

CBDS

$18.00

$4.59

Yes-"Loser"

CBGI

$0.48

na

Yes-"Loser"

CBIS

$0.30

$0.05

Yes-"Loser"

CGRW

$0.73

$0.37

Yes-"Loser"

CHUM

$6.99

$0.90

Yes-"Loser"

CNBX

$1.40

$0.25

Yes-"Loser"

EAPH

$0.10

$0.01

Yes-"Loser"

ECIG

$19.99

$0.09

Yes-"Loser"

EDXC

$0.36

$0.04

Yes-"Loser"

ENRT

$1.08

$0.06

Yes-"Loser"

ERBB

$0.22

na

Yes-"Loser"

FITX

$0.11

na

Yes-"Loser"

FSPM

$9.20

$0.09

Yes-"Loser"

FWDG

$0.04

na

Yes-"Loser"

GRCU

$0.05

na

Yes-"Loser"

GTSOD

$11.00

na

Yes-"Loser"

GWPH

$111.46

$67.37

Yes-"Loser"

HEMP

$0.34

$0.03

Yes-"Loser"

ICBU

$0.21

$0.01

Yes-"Loser"

IMLFF

$1.01

$0.11

Yes-"Loser"

LATF

$0.02

na

Yes-"Loser"

LGBI

$3.75

$0.00

Yes-"Loser"

LXRP

$0.79

$0.09

Yes-"Loser"

MBOO

na

na

Yes-"Loser"

MCIG

$0.92

$0.14

Yes-"Loser"

MDBX

$37.75

$6.39

Yes-"Loser"

MDCN

$4.36

$0.02

Yes-"Loser"

MJNA

$0.48

$0.12

Yes-"Loser"

MYEC

$0.08

na

Yes-"Loser"

NDEV

$0.50

$0.33

Yes-"Loser"

NMUS

$11.00

na

Yes-"Loser"

NTRR

$1.00

$0.10

Yes-"Loser"

NVLX/PMCB

$0.21

$0.19

Yes-"Loser"

OGRMF

$2.16

$0.56

Yes-"Loser"

PHOT

$0.80

$0.02

Yes-"Loser"

PMCM

$0.01

$0.00

Yes-"Loser"

PTOG

$0.08

na

Yes-"Loser"

REFG

$0.48

$0.07

Yes-"Loser"

RSSFF

$0.98

$0.18

Yes-"Loser"

SING

$0.31

na

Yes-"Loser"

SPRWF

$0.71

$0.32

Yes-"Loser"

SRNA

$8.73

$0.29

Yes-"Loser"

THCZ

$0.05

$0.01

Yes-"Loser"

YHXBY

$2.80

$2.15

Yes-"Loser"

TWMJF

$3.90

$1.77

Yes-"Loser"

UPOT

$32.40

$0.43

Yes-"Loser"

TOTAL

$620.76

$98.79

 

52 week highs were developed from SA.

Dec 30, 2014 closing prices were developed from YF.

Results from N=60 Marijuana Stocks and "the January Effect"

The January effect is a seasonal that occurs every year, but to different degrees. Generally, when the market is up for a calendar year, those with taxable gains sell their "losers" to "match" losses against gains during the latter part of the calendar year. They do this to reduce taxable gains (net) and the amount they must pay in taxes on April 15th of the following year, when they file their individual income tax returns. Recall that 100% of the N=60 marijuana stocks in the above table were tax loss selling candidates. This really simplifies the below analysis.

First, n=13 of the N=60 (~22%) stocks are not trading ("na").

Second, there are n=37 of the N=60 (~62%) are winners (a bit overstated, as I count a move from $0.0 to $0.0 as a winner). A single winner, GWPH, at $11.16, is not a marijuana "pure play," but is a real company with real operations and earnings. You might choose to copy/paste the below table into an Excel file, remove this stock and examine recomputed returns. I do not want to remove any stocks from my portfolio, at least not quite yet. The next biggest "winner" was CBDS, at $2.88. If you remove n=2 stocks from the winners, GWPH and CBDS, you remove $14.04 from the $16.16 in the winners column.

Third, there are n=10 of the N=60 (~17%) that are losers.

Finally, the net results from the January effect reaction is $15.84 on $98.79 invested in a value-weighted portfolio with no commissions or friction, a return of about 16% in about 2 weeks. Not bad. Of course, $8 per buy and sell commission is $16 per round trip. $16 multiplied by N=60 stocks is $960.

Therefore, the N=60 marijuana stock portfolio has done something that this very, very difficult to achieved. In a year when the market is up, significantly, a portfolio of these stocks have failed to achieved a positive return from the tax loss selling and January effect sequence.

 

30-Dec-14

9-Jan-15

   

January

Ticker

Close

Close

Winners

Losers

Effect (net)

ACOL

$0.03

$0.02

 

-$0.01

-$0.01

AERO

$3.72

$3.75

$0.03

 

$0.03

AGTK

$0.06

$0.06

$0.00

 

$0.00

AMMJ

$0.60

$0.74

$0.14

 

$0.14

ATTBF

$0.14

$0.15

$0.01

 

$0.01

AVTC

$1.36

$1.53

$0.17

 

$0.17

BAYPD

na

na

na

na

na

BLPG

$0.25

$0.24

 

-$0.01

-$0.01

BNRDF

$0.66

$0.63

 

-$0.03

-$0.03

BRDT

$0.08

$0.08

$0.00

 

$0.00

BTFL

$0.43

$0.46

$0.03

 

$0.03

CANL

$0.91

$1.25

$0.34

 

$0.34

CANN

$1.00

$1.20

$0.20

 

$0.20

CANV

$2.40

$2.86

$0.46

 

$0.46

CBDS

$4.59

$7.47

$2.88

 

$2.88

CBGI

na

na

na

na

na

CBIS

$0.05

$0.07

$0.02

 

$0.02

CGRW

$0.37

$0.52

$0.15

 

$0.15

CHUM

$0.90

$1.05

$0.15

 

$0.15

CNBX

$0.25

$0.28

$0.03

 

$0.03

EAPH

$0.01

$0.03

$0.02

 

$0.02

ECIG

$0.09

$0.05

 

-$0.04

-$0.04

EDXC

$0.04

$0.06

$0.02

 

$0.02

EBRT

$0.06

$0.06

$0.00

 

$0.00

ERBB

na

na

na

na

na

FITX

na

na

na

na

na

FSPM

$0.09

$0.00

 

-$0.09

-$0.09

FWDG

na

na

na

na

na

GRCU

na

na

na

na

na

GTSOD

na

na

na

na

na

GWPH

$67.37

$78.53

$11.16

 

$11.16

HEMP

$0.03

$0.03

$0.00

 

$0.00

ICBU

$0.01

$0.02

$0.01

 

$0.01

IMLFF

$0.11

$0.10

 

-$0.01

-$0.01

LATF

na

na

na

na

na

LGBI

$0.00

$0.00

$0.00

 

$0.00

LXRP

$0.09

$0.11

$0.02

 

$0.02

MBOO

na

na

na

na

na

MCIG

$0.14

$0.16

$0.02

 

$0.02

MDBX

$6.39

$6.45

$0.06

 

$0.06

MDCN

$0.02

$0.02

$0.00

 

$0.00

MJNA

$0.12

$0.13

$0.01

 

$0.01

MYEC

na

na

na

na

na

NDEV

$0.33

$0.34

$0.01

 

$0.01

NMUS

na

na

na

na

na

NTRR

$0.10

$0.10

$0.00

 

$0.00

NVLX/PMCB

$0.19

$0.19

$0.00

 

$0.00

OGRMF

$0.56

$0.48

 

-$0.08

-$0.08

PHOT

$0.02

$0.03

$0.01

 

$0.01

PMCM

$0.00

$0.00

$0.00

 

$0.00

PTOG

na

na

na

na

na

REFG

$0.07

$0.06

 

-$0.01

-$0.01

RSSFF

$0.18

$0.16

 

-$0.02

-$0.02

SING

na

na

na

na

na

SPRWF

$0.32

$0.30

 

-$0.02

-$0.02

SRNA

$0.29

$0.41

$0.12

 

$0.12

THCZ

$0.01

$0.01

$0.00

 

$0.00

THXBY

$2.15

$2.15

$0.00

 

$0.00

TWMJF

$1.77

$1.86

$0.09

 

$0.09

UPOT

$0.43

$0.43

$0.00

 

$0.00

TOTALS

$98.79

$114.63

$16.16

-$0.32

$15.84

A Look at Partitions of the N=60 Marijuana Stock Portfolio

I will look at the portfolio in 3 partitions: (1) Canadian (n=7), (2) Nevada (n=24), and (3) Delaware (n=7) corporations, for a subtotal of n=38.

A Look at the Canadian Partition, Eh?

Below are n=7 Canadian stocks from the N=60 (~12%) stock portfolio. Note the "F" suffix in the 5 character ticker symbol for "foreign." These stocks did not perform well. Avoid a long-term buy-and-hold on Canadian marijuana firms. Their market is dwarfed by the U.S. population and market. You can profitably trade them on an over-reaction, but the price-per-share will not "stick." Yes, they are exotic and not domestic, but so are some of the pitchmen selling you products on infomercials.

Canada

30-Dec-14

9-Jan-15

   

January

Ticker

Close

Close

Winners

Losers

Effect (net)

ATTBF

$0.14

$0.15

$0.01

 

$0.01

BNRDF

$0.66

$0.63

 

-$0.03

-$0.03

IMLFF

$0.11

$0.10

 

-$0.01

-$0.01

OGRMF

$0.56

$0.48

 

-$0.08

-$0.08

RSSFF

$0.56

$0.48

 

-$0.08

-$0.08

SPRWF

$0.32

$0.30

 

-$0.02

-$0.02

TWMJF

$1.77

$1.86

$0.09

 

$0.09

TOTALS

$4.12

$4.00

$0.10

-$0.22

-$0.12

A Look at the Nevada Partition

Nevada corporations comprise n=24 (40%) of the N=60 stocks in the portfolio. There are n=20 winners (80%), but $2.88 of the $3.90 return from these winners is from a single stock. - CBDS. There are only N=4 losers, however, n=8, BAYPD, CBGI, ERBB, FITX, MBOO, NMUS, PTOG, and SING, fell into the "na" (or "not applicable) category or classification.

NV

30-Dec-14

9-Jan-15

   

January

Ticker

Close

Close

Winners

Losers

Effect (net)

AERO

$3.72

$3.75

$0.03

 

$0.03

AVTC

$1.36

$1.53

$0.17

 

$0.17

BLPG

$0.25

$0.24

 

-$0.01

-$0.01

BTFL

$0.43

$0.46

$0.03

 

$0.03

CANL

$0.91

$1.25

$0.34

 

$0.34

CBDS

$4.59

$7.47

$2.88

 

$2.88

CBIS

$0.05

$0.07

$0.02

 

$0.02

CHUM

$0.90

$1.05

$0.15

 

$0.15

CNBX

$0.25

$0.28

$0.03

 

$0.03

ECIG

$0.09

$0.05

 

-$0.04

-$0.04

EDXC

$0.04

$0.06

$0.02

 

$0.02

ENRT

$0.06

$0.06

$0.00

 

$0.00

FSPM

$0.09

$0.00

 

-$0.09

-$0.09

LGBI

$0.00

$0.00

$0.00

 

$0.00

LXRP

$0.09

$0.11

$0.02

 

$0.02

MCIG

$0.14

$0.16

$0.02

 

$0.02

MDBX

$6.39

$6.45

$0.06

 

$0.06

MDCN

$0.02

$0.02

$0.00

 

$0.00

NDEV

$0.33

$0.34

$0.01

 

$0.01

NVLX/PMCB

$0.19

$0.19

$0.00

 

$0.00

REFG

$0.07

$0.06

 

-$0.01

-$0.01

SRNA

$0.29

$0.41

$0.12

 

$0.12

THCZ

$0.01

$0.01

$0.00

 

$0.00

UPOT

$0.43

$0.43

$0.00

 

$0.00

TOTALS

$20.70

$24.45

$3.90

-$0.15

$3.75

A Look at the Delaware Partition

Delaware corporations comprise n=7 (~12%) of the N=60 stocks in the portfolio. There are n=7 winners (100%). There are no losers, however, n=3, GTSO (or GTSOD), FWDG and LATF, fell into the "na" (or "not applicable) category or classification.

CANV was the driving force behind the positive returns generated by the winners.

DE

30-Dec-14

9-Jan-15

   

January

Ticker

Close

Close

Winners

Losers

Effect (net)

AGTK

$0.06

$0.06

$0.00

 

$0.00

AMMJ

$0.60

$0.74

$0.14

 

$0.14

BRDT

$0.08

$0.08

$0.00

 

$0.00

CANV

$2.40

$2.86

$0.46

 

$0.46

CGRW

$0.37

$0.52

$0.15

 

$0.15

PHOT

$0.02

$0.03

$0.01

 

$0.01

PMCM

$0.00

$0.00

$0.00

 

$0.00

TOTALS

$3.53

$4.29

$0.76

$0.00

$0.76

A Summary of Partitions

Thirty-eight of the N=60 firms represented the focus of the above partitions. Canada, Nevada and Delaware corporations were examined. Nevada and Delaware corporations that do not appear to be trading followed (na). Any firm other than those incorporated in Canada, Nevada or Delaware are not likely to present any pattern from the literature on the "January effect" or "seasonals," so they were not examined. This is the practice in the literature examining state of incorporation. I found the results to be quite compelling, but you must decide if they are helpful to you in building your marijuana (or other) portfolio. My recommendation is that you avoid this sector, unless you are a skilled penny stock day-trader, and invest in something real. The reconciliation follows:

Canada

7

NV

24

DE

7

Subtotal

38

NV-na

8

DE-na

3

Subtotal

49

Other

11

Total

60

Summary

  • Excessive fundamental analysis of marijuana stocks is proving to be of little or no value and only generates "noise" when constructing a portfolio. Instead, the focus should be on event dates.
  • The January effect was present for 2014, leading up to the March 2014 Canadian MMPR, with a sell off, followed by some buying pressure in anticipation of a November 2016 U.S. election favoring the legalization of marijuana in Oregon, Alaska, and D.C.
  • The November 2014 election results were favorable, but legalization in low population states did not result in an economically significant increase in marijuana stocks, in general. Furthermore, there is no January effect for marijuana stocks in 2015, though we are in the middle of "penny stock season" through March or April 2015.
  • Like a discarded, rusting car or piece of equipment in a hillbilly's front yard, more than n=10 marijuana stocks have been discarded and/or are no longer trading. They would appear to have served their purpose, at least, in the near-term.
  • There is no compelling reason to build, buy-and-hold a long-term marijuana stock portfolio, at this time and based on the N-60 marijuana stocks included in and addressed in this article.
  • Seventeen additional marijuana stocks have been identified. Twelve will be examined in the next installment.
  • Please feel free to use the comprehensive table in this SA article to copy/paste to an Excel worksheet and/or to print out and develop your own thoughts with respect to these and other marijuana stocks.

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it (other than from Seeking Alpha). The author has no business relationship with any company whose stock is mentioned in this article.

Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.