Marijuana Stocks to Invest in: Stockpick Whiz Kid
NEW YORK ( MainStreet) Many believe that cannabis should be legalized in the U.S. Recently, our country has reached historic milestones, including on September 10 when the Judiciary Committee assembled for its first-ever hearing regarding the legalization of marijuana.
Citizens across the country believe that for the government even to consider legalization is a huge step in the right direction that may foretell certain particular economic boons.
Economists, reformists and the government have estimated the medical marijuana and cannabis market to be between $10 billion and $120 billion a year. If legalization were to occur, those numbers would sky rocket, pushing the tobacco market and other substitute products way down.
Currently, 20 states allow use under the act of legal medical marijuana, but only a select few have legalized marijuana for recreational use. Colorado recently legalized marijuana for non-medical use as did Washington, yet there are laws restricting of how much one can carry and grow. Many agree that a domino effect could occur, triggering other states to follow in their foot steps.
A huge benefit for the government to the legalization of marijuana would be taxation. Cutting down the Drug Enforcement Agency's (DEA) interference could also save billions of dollars for the government and reduce drug trafficking and violence.
A study has been recently made that the average price of 0.5 grams of marijuana sold for $8.60, with a production cost of $1.70, leaving a total cost of $6.90 a gram. The cannabis bubble is stretching by the day and is ready to pop, releasing opportunity and profit. Marijuana stocks are alive and thriving, such that many analysts recommend an investment in the sector. Here are some smoking stocks that may catch your interest:
Cannabis Science, Inc. (CBIS)- Cannabis Science is located in Colorado Springs where they develop, produce and commercialize phytocannabinoid-based pharmaceuticals. The company have a large presence within the California medical marijuana market. Cannabis Science has a large market cap of $32 million with 710.40 million shares outstanding.
Growlife, Inc. (PHOT)- Growlife distributes mini-hydroponic greenhouses and products such as mineral nutrient solutions, horticultural seeds and growing mediums and germination kits. PHOT has a strong position of $33.2 million with 620 million shares outstanding.
Terra Tech Corp. (TRTC)- Terra Tech Corp. specializes in growing indoor technologies. The company's product can be marketed to farmers, green house growers and horticulture enthusiasts. TRTC is located in Irvine, Calif. and has a market capital of $6.7 million with an outstanding share count of 82 million.
MediSwipe, Inc. (MWIP)- MediSwipe Inc. provides transaction processing and security solutions for the medical marijuana market. MWIP has a card-based technology that allows merchants to process a payment via traditional card-present (or swipe) transactions and card-not-present transactions. MediSwipe racks in a $17.6 million market capital and has 445.5 Million shares outstanding. MediSwipe is located in Michigan.