With the growing marijuana industry, is now the time to purchase stock? We’re no market experts, but Cody Willard is. He writes for the Wall Street Journal’s MarketWatch, and recently posted a summary of the best and worst stocks to purchase in the marijuana industry.
Willard’s biggest warning is to stay away from penny stocks. Playing penny stocks will likely lose you money. Not to worry, though – he offers alternative investment options, especially those that will supply the more industrial-sized marijuana farms, like Lindsay and Calgon Carbon.
Lindsay Manufacturing is headquartered in Omaha, Nebraska. It’s the manufacturer of Zimmatic brand center-pivot irrigation systems, and also manufactures farm and construction machinery, as well as road and railroad infrastructure equipment. Calgon Carbon is located in Pittsburgh, Pennsylvania and offers products
Last year in Illinois, the state voted to adopt a Medical Cannabis Pilot Program (MCPP). Although it formally began on January 1, 2014, a legislative committee finally approved rules this week. Soon, growers and retailers will be able to apply for permits and get the ball rolling.
Representatives sponsoring the legislation have been very complimentary of Governor Pat Quinn and his office for their sincere engagement in the process. According to them, seven months actually wasn’t a bad timeline for the work necessary to implement this pilot program, which included pursuing public feedback, researching, and writing rules. The program does end in 2017, though, so the quicker the program gets on its feet, the better. At this point, it will be spring 2015 before the drug is actually available.
So, the basics:
1. Qualifying patients include those suffering
FYI – if the marijuana farm in Central Texas belongs to you, federal investigators are probably headed your way. A rancher from Chambers County recently leased some land from the Army Corps of Engineers and found something he didn’t expect – 5,500 marijuana plants worth about $2 million. Ouch. That loss is going to hurt.
Poor Geovany Soto. Last week, the Texas Rangers former All-Star catcher and Rookie of the Year was arrested for marijuana possession – just under two ounces, to be a little more exact. Soto has been on the disabled list all season after having surgery on torn cartilage in his right knee. Maybe he was just medicating!
Medicating or not, 31-year old Soto was pulled over for speeding in Grapevine, about a half-hour northwest of Dallas. He must have had a pretty dank-smelling car, because the cops searched him and found the pot. Soto tested positively for marijuana during the World Baseball Classic in 2009, but generally Major League Baseball doesn’t conduct regular testing. If players are found using it, they are referred to a treatment board that will determine whether a treatment program is really necessary.
No next steps for Soto yet, but he has been released on a $500