Cannabis stocks are on the rise, as recreational marijuana is now legalized in the state of California. In the U.S, 8 states have entirely legalized the medical and recreational use of cannabis and all but four states have legalized the use of marijuana for medicinal purposes.
Weed, Inc. (OTC:BUDZ) has seen significant gains in its stocks within the last four months. Currently, its stock is up 43% for the day, selling at $12.40 a share. Back on October 3rd, the stock closed at $1.16 a share, up 968% in just 90 days, with its current market cap sitting at $1.23 billion.
Started back in 1999, as United Mines Inc back In Tucson, Arizona, Weed Inc is pushing to be the first publicly traded cannabis company on the NASDAQ/NYSE exchange. The company’s day-to-day focus consists of the purchasing of commercial land to build commercial grade “cultivation centers” that manage, consult, assist and lease to licensed dispensaries. This would work on a contract basis, focusing on the medical and legal marijuana sectors.
Weed, Inc’s big picture plan is to become a premier “seed-to-sale” company that provides financial solutions, real estate options and infrastructure in the new and growing cannabis market.
It’s almost 1000% price surge, is attributed the current cannabis market growth. As Canada ramps up for its nationalized legalization and many states begin to adopt legalization, the demand will continue to rise. Weed, Inc has been in the cannabis market since 2015 and as the company continues its expansion, its stocks will continue to rise. In July, the company aims at targeting the large Canadian market and now would be a good time to buy up shares of this stock. In the next six months, the stock will likely continue to rise as they expand their operations across the U.S.
Featured Image: depositphotos/yellow2j
