CORAL GABLES, FL / ACCESSWIRE / November 11, 2014 / There's no secret to the marijuana industry…it's here and it's happening. The legalization of medical and recreational cannabis spans nationwide in 25 states including the US Capitol. Many companies have focused their efforts on direct contact through the cultivation of cannabis from seed to plant, in anticipation for legalization. But in states like Florida which came up short in this year's midterm, companies who once banked on an end to prohibition in their respective state need to wait longer and barriers to entry remain. For others who have focused on more ancillary means of capitalizing on this latest industry boom, the overall growth potential is less inhibited and invites a more viable opportunity for investment in the space.
Take CannaGrow Holdings (OTC:CGRW) for example. The Company flat out states that it "does not and will not, until such time as Federal law allows, grow, harvest, distribute or sell marijuana or any substance that violates the laws of the United States of America". But what it actually does could be an asset to many businesses looking to break into the dispensing and growing space within the Colorado market. The Company consults and acts as a liaison of sorts to provide licensed growers with ready to go grow facilities in Colorado. Now that more states have come online for legalization, management at CannaGrow states that the Company is in an ideal position to see substantial gains. For the stock, that has certainly held true in November. Since the beginning of the month CGRW has jumped as much as 174% after seeing highs of $0.26 in Monday's session.
Despite a late afternoon pull-back, investors should be pleased to find that this morning CannaGrow announced that it has reduced the common shares issued by 20% after it canceled 25 million shares of common stock. This move is part of an ongoing effort by the Company to increase and maintain shareholder value. Delmar Janovec, CannaGrow Holdings, CEO stated, "The cancellation of a significant amount of the issued and outstanding, along with the reduction of the authorized shares, will certainly enhance CannaGrow Holdings good standing as we stake our claim in the Medical-Recreational Marijuana industry in Colorado."
MyECheck, Inc (OTC:MYEC) is another "hands off" cannabis company which focuses on electronic and mobile payment solutions but has recently developed a way for merchants in the federally limited marijuana industry to accept electronic payments. MyECheck acquired GreenPay LLC earlier this year, which handles the legal marijuana industry business for the Company as a wholly owned subsidiary. Just a few days ago MYEC through GreenPay signed a reseller agreement with Maverick Bankcard for co-branding and co-marketing of the MJ-Pay System designed specifically for marijuana industry payments.
The stock has been on an uptrend since mid-August moving as much as 339%. Recently the stock has pulled back slightly and has traded sideways for the last few days. With increasing support of the marijuana industry continuing to grow as more states come on board, MyECheck has positioned itself to be a market leader for electronic payment processing for the MJ industry especially after posting gross margins of 75% as of its most recent quarterly disclosure.
Among newcomers to cannabis space, Tom Bollich, the robotics engineer who co-founded Zynga (NASDAQ:ZNGA) has also thrown his hat into the 'smoke ring' with a different approach to "hands-off" cultivation. He's begun to build the industry's preeminent technology provider to the cannabis industry through Surna, Inc. (OTC:SRNA). The Company has been highlighted by Forbes Magazine, Entrepreneur, Squak Alley, and Fortune Magazine for its novel water chilled, climate controlled growing systems for indoor marijuana growers. "The explosive growth and political changes beginning to sweep across United States proves it will not only infuse billions into the economy but change a number of industries," Bollich told Forbes. Based on an adaptable technology, lively marketing opportunity, and a market positioned for unchained growth, Surna's CEO has identified an untapped niche within this latest industry boom.
As attention mounts across the nation and the cannabis craze continues to uphold a fever pitch following the recent elections, SRNA continues to identify new markets with the recent addition of Alaska, Oregon, and Washington D.C. passing laws for recreational legalization. The stock itself has been trending in more of a sideways pattern and increased volume supports a healthy market between $0.40 and $0.60 over the past 30 days. Should Surna continue to report quarter over quarter growth as it did in October's earnings, Mr. Bollich could have another winner on his hands.
Medbox (OTC:MDBX) not only has patented systems that dispense medication based on biometric identification (fingerprint sample) but the company has also endeavored into the consulting arena helping clients with licensing, technology development, real estate acquisitions, and even holds its own line of vapor products. Since late September MedBox has maintained a level of positive price movement after closing Monday afternoon at $9.99; an overall increase of 26%. However it should be noted that the month of November has seen its share of insider selling. Since October 31 a mix of officers, directors and beneficial owners have sold a total of 10,500 at an average price around $11.77/share. This could be a reason for the stocks short-term pullback.
Marijuana stocks have had their fair share of consolidation over the last few months. Popular opinion continues to support nationwide legalization and new supports come on board every day from all different industries. Investors looking for real opportunity within this industry should focus on companies that are focused on the future. Whether that means new technology or innovative cultivation methods, the marijuana industry will continue to push the envelope when it comes to meeting demand in a market hungry for its supply. This impending economy of scale has only a matter of time before it reaches a tipping point and as with alcohol prohibition, millions could be made as soon as the majority of US territories come on board for new legalization.
About marijuanastocks.com
(Marijuana Stocks) is the leading web destination for all things cannabis. Investors can find marijuana related financial, medical, legal, and social news anytime day or night. Writers are invited to submit cannabis related articles for publication.
Legal Disclaimer
Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. DAMJ VENTURES LLC which owns www.MarijuanaStocks.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. DAMJ VENTURES LLC which owns www.MarijuanaStocks.com, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. DAMJ VENTURES LLC which owns www.MarijuanaStocks.com, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two.
Contact Information:
marijuanastocks.com
800-539-4313
pr@marijuanastocks.com
SOURCE: MarijuanaStocks.com