From 24/7 Wall Street:
Medical Marijuana Inc. doesn't sell on the NASDAQ or NYSE, but over-the-counter. And not over-the-counter drugs but stocks, which are listed under CVIV and currently sit at
This morning the company [Medical Marijuana Inc.] filed a patent application for an inventionthat the company says "potentially satisfies various governmental and
the medical marijuana dispensaries' needs for tax collection in the
medical marijuana industry." This is to identify the dispensary's tax
ID number and tax rates for state and local taxes.
$1.13 per share, the highest it has ever been, man.
Medical
Marijuana Inc. does have some issues that will scare would-be
investors. Its CEO, Bruce Perlowin, is a convicted smuggler who claims
to have brought in millions of pounds of pot. Also, the company has yet to make a
profit or show that it can make a profit or all that other stuff that
investors find important. But if it does become big, the floodgates could open. As casinos have shown, if there is a buck to be made, corporate America is not far behind.
At the moment Medical Marijuana is a huge gamble, but it shows that the legalize-it crowd is getting smart and
appealing to what Americans care about the most -- their pocketbooks.
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