FINRA Has Some Warning Warning For Penny Pot Stock Investors

The Financial Industry Regulatory Authority is urging investors to just say no to investing in marijuana stock schemes.

FINRA issued a warning on Wednesday, Aug. 20, that public companies linked to the growing industry of medical pot may leave investors holding a different kind of bag if the stocks are used in pump-and-dump schemes.

Twenty states and Washington, D.C., allow the use of medical pot and 11 states allow marijuana dispensaries, according to ProCon.org, a website that tracks marijuana legislation. In New York, Minnesota, Ohio and Pennsylvania there is pending legislation to make medical marijuana use legal. Washington state and Oregon allow the use of marijuana for recreational purposes.

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