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Medical Marijuana, Inc. (MJNA): Top 6 Stocks Soar Up To 97% On Federal Breakthrough

 August 30, 2013 02:39 PM

In an economically and technologically advanced world, it's not very often that we get a chance to see an entirely new industry born before our very eyes. But that's exactly what is happening right now in a little-known or understood segment of the market. And just like the industrial and technological revolution, it is creating a huge opportunity for investors.

I'm talking about the medical marijuana industry and medical marijuana stocks. Under a wave of state de regulation and Federal leniency, the medical marijuana industry continues to grow by leaps and bounds.

As it stands, 20 states have signed legislation legalizing medical marijuana. Illinois is the latest to join the group, with Governor Pat Quinn signing legislation on August 1. At the same time, the states have also been decriminalizing marijuana, reducing both penalties and fines.

[Related -Medical Marijuana Inc (OTCMKTS:MJNA): A Look At Pot Stocks Offering Quick Bucks]

But on the federal level, there has still been plenty of concern that the Federal government would crack down on the states and medical marujuana industry. And that was creating a lot of uncertainty in the industry.

But just yesterday, there was a key development on the federal level that sent medical marijuana socks soaring. The Justice Department came out and said it won't challenge state laws that legalize marijuana. This is a profound development in the industry that sets the table for more legalization and decriminalization. And it also sent medical marijuana stocks soaring, with Medical Marijuana, Inc. (MJNA) jumping 97% in the last hour of trade.

[Related -Medical Marijuana Inc (OTCMKTS:MJNA): A Look At Five Best Marijuana Stocks]

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As you can see, the trend of legalization and decriminalization is real, it's powerful and it is creating what I consider to be one of the best long-term investment opportunities. And it's never been easier to cash in on the trend, because there are already a number of publicly traded companies that specialize in the medical marijuana industry.

But here is an important caveat for anyone interested in these stocks. Many are penny stocks, and there is little information on them, making this a highly speculative and risky investment. So even though I consider medical marijuana to be an amazing investment opportunity, it will not be a smooth ride, so expect volatility.

Here is a list of my top 6 medical marijuana stocks with some key stats.

Top 6 Medical Marijuana Stocks

Medbox, Inc. (MDBX)

  • Market cap: $455 million
  • Average Daily Volume: 7.8K

CannaVEST Corp. (CANV)

  • Market cap: $201 million
  • Average Daily Volume: 74

Medical Marijuana, Inc. (MJNA)

  • Market cap: $160 million
  • Average Daily Volume: 6 million

Cannabis Science, Inc. (CBIS)

  • Market cap: $33 million
  • Average Daily Volume: 2.6 million

Growlife, Inc. (PHOT)

  • Market cap: $12 million
  • Average Daily Volume: 7.4 million


  • Market cap: $12 million
  • Average Daily Volume: 7.4 million

The Takeaway

The medical marijuana industry is being born right in front of our very eyes, and that is creating a huge opportunity for early investors who understand what is happening. But make no doubt about it, this is going to be a bumpy ride with plenty of volatility. But in the long run, there are few opportunities with the kind of upside potential as the medical marijuana industry and the small group of medical marijuana stocks that are in position to capitalize.

For more top stock picks and analysis, check out a 4-week free trial to Michael's premium newsletter the

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