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CannabisFN Weekly: Colorado Legalization Sparks Surge in Stocks

Ryan Allway

January 13th, 2014

News, Top Story

Colorado begins its second full week of fully legalized cannabis on a positive note. The Denver Police Department issued only four marijuana citations without any major incidents. According to Denver police spokesman Sonny Jackson, “That’s relatively small considering the number of people consuming right now.” Interest in legal marijuana has been so high in the state that many shop owners have limited the amount consumers could buy or raised prices to avoid shortages.

Colorado is being closely watched by a number of other states considering recreational or medical marijuana legalization. New York Governor Andrew Cuomo took the first step towards legalizing cannabis in New York last week by announcing plans to let some hospitals distribute the drug to patients with “serious illnesses”. Meanwhile, Alaskan activists secured enough signatures to put recreational cannabis legalization on the ballot during the upcoming election.

Investing in Cannabis

Cannabis traders had a roller coaster ride last week, with marijuana stocks surging higher early during the week followed by some profit-taking towards the end of the week. The biggest gainers included companies like Cannabis Sativa Inc. (OTCBB: CBDS) and Alternative Fuels Americas (OTC Markets: AFAI), which both more than tripled last week. Companies like HEMP Inc. (OTC Markets: HEMP) also moved higher last week but gave up some of their gains amid profit-taking by short-term traders.

Some of the week’s top stories included:

  • Alternative Fuels Americas (OTC Markets: AFAI) announced on January 9, 2014 that it formed a subsidiary, Marijuana Holdings Americas, to mark its entry into the cannabis market. The subsidiary has begun evaluating the application process for medical marijuana and recreational licenses that are now available in 20 states and Washington D.C. with more states expected to follow suit.
  • PeopleString Corp. (OTCQB: PLPE) announced that it received FINRA approval for a 1-for-40 stock split, name change, and symbol change to Vape Holdings Inc. (OTCQB: VAPE) on January 7, 2014. The entity will be focused on pursuing opportunities the legal cannabis concentrate industry.
  • Advanced Cannabis Solutions (OTCQB: CANN) announced that it signed a long-term lease for its recently purchased Pueblo County gore property with a premier cannabis grow operation on January 10, 2014. The 8-year lease marks the first for the company that intends to become a leading cannabis land owner.

What to Watch this Week

Cannabis stocks will likely remain in play this week as traders continue to speculate in the space. While short-term trading has dominated the market so far in January, there are signs that long-term investors have stepped up interest in the space. Legalization in Colorado and soon-to-be Washington has opened up the market to significant opportunities.

To subscribe to the CannabisFN newsletter or read additional coverage on cannabis laws and investments, visit www.cannabisfn.com.

About CannabisFN

CannabisFN.com is a dedicated financial network covering new, emerging and established companies operating in the burgeoning multi-billion dollar medical marijuana (“MMJ”) and cannabis industries. CannabisFN’s coverage is syndicated on the leading industry specific and mainstream financial websites and social media. To learn more and request a media kit, visit https://cannabisfn.com.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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