Best Marijuana Stocks: MediSwipe (MWIP)
11/20 Stock Price: 18 cents
Market Cap: $7.8 million
YTD Performance: 15%
MediSwipe (MWIP) is another medical marijuana stock that’s an allied play on legal marijuana. MediSwipe facilitates the medical marijuana business by providing electronic transaction processing and accounts receivable financing, among other services.
Shares of MWIP stock have been volatile even for a medical marijuana stock. MediSwipe is up 15% for the year-to-date, but at one point the stock was up as much as 600%. However, unlike PHOT or CBIS, it never went negative this year.
For the most recent quarter, MediSwipe had a net loss of $182,000 on revenue of $47,000. However, cash and cash equivalents grew to $153,000 from $1,892 at the end of last year. And while MWIP stock trades just under 5 million shares per day, its $7.8 million market cap is still much larger than other marijuana-related stocks like CannaVest Corp (CANV), for example.
The bottom line: Proceed with caution if you’re looking to bet on marijuana stocks, or any penny stocks. But if you’re really a big believe in the legal marijuana megatrend, these are the most established names in the space.
As of this writing, Dan Burrows did not hold a position in any of the aforementioned securities.