2014’s Top Marijuana Stocks: Can Still Be On Top This Year?

But that sudden surge forward during the first quarter was followed by one SEC halt after another which dogged the sector ever since. The category is expected to continue its decline next year, according to Viridian Capital & Research. Read More: Only $2.5 billion of$50 billion in pot is sold legally The valuations among publicly traded companies are unsustainable relative to the underlying fundamentals, said Scott Greiper, CEO with Viridian Capital & Research in Manhattan.

Unless there’s hype and fundamental strength coming back into the market, we will continue to see the majority of marijuana penny stocks drop in price . Hype contributing to fundamental strength could arrive in the form of announcement of contracts, acquisitions, new products and ultimately legalization. Federal legalization would change everything, because it would take the risk out of the sector, but I don’t think it will happen next year, Greiper told Mainstreet.

The top performing pot penny stock this year was Novus Acquisition Development Corporation (NDEV), a consulting company which gained 3,400%. They have put together an insurance plan for medical patients which operates like a medical savings plan or loyalty program, said Michael Swartz, analyst with Viridian Capital & Research.

To read more, visit http://www.mainstreet.com/article/top-marijuana-penny-stocks-for-2014-consulting-biotech-and-infused-products-win

Comments are closed.

Get the latest content first.
©Marijuana Stocks Report