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Don’t Be Fooled By the Smoke Around Marijuana Stocks

Penny stocks like MJNA and CBIS are bad bets

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Marijuana Stocks - Cannabis Science (CBIS)

CannabisScienceCBIS185 Don't Be Fooled By the Smoke Around Marijuana StocksThe ugly financials for MJNA stock sure don’t bode well for Cannabis Science (CBIS). CBIS stock is yet another penny stock, trading at just 3 cents per share. Once again, penny stocks — and thus medical marijuana stocks — are risky in and of themselves.

Plus, CBIS stock has a license agreement that focuses on the California market, which isn’t a great idea. There has been great uncertainty for the marijuana industry (and thus medical marijuana stocks) here in California because the city of Los Angeles can’t seem to decide on just what it’s policy is, and what it will or will not enforce. Uncertainly is a bad thing for CBIS stock, as it is for all medical marijuana stocks.

Plus, CBIS stock has negative shareholder equity. It also has lost money every year and every quarter in the trailing 12 months. I can’t see how Cannabis Science stays in business … but CBIS stock isn’t even worth shorting at just three pennies per share.


Article printed from InvestorPlace Media, http://investorplace.com/2013/12/marijuana-stocks-penny-stocks-mjna/.

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