Spirits were running high the night voters in Washington and Colorado gave marijuana the thumbs up, but perhaps no one’s more than investors in Medbox, a marijuana dispensing machine manufacturer.
Usually, their shares trade between $2.75 and $3.45, but after the yes vote, they jumped to a whopping $215 a share. The company is advising investors to chill out, as the price has now settled around $100, but the jump is still amazing and founder Vincent Mehdizah is determined to reward those who initially put their faith and funds in his business.
“We will take steps to attempt to avoid a roller-coaster syndrome, with the stock rising and falling in dramatic fashion,” he said. “We are in discussions with our attorneys to determine if we can reward our early investors who believe in our company, by giving them company-owned shares should the price they bought at fall significantly. That’s what classy companies do.”
Marijuana, the new martini.
Full story at The Register.
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