Jan 8, 2014 11:13 AM by CNN MONEY
The business of legal marijuana is booming in Colorado -- and investors are catching a contact high.
Yes, there are pot stocks. Nearly all of them are thinly traded penny stocks available only on over-the-counter exchanges, but shares of companies that service the growing cannabis market have been blazing in recent weeks.
Medbox (MDBX) is the latest example. The company provides products and services for businesses that dispense medication, such as pharmacies. It announced plans Tuesday to tailor its products for use in recreational and medical marijuana facilities. Shares soared 65%. (Medbox, for the record, is not a penny stock. Shares trade for about $66 and the company is valued at nearly $1 billion.)
16 hours ago