IMO, Big Biz and Marijuana will not take off unless it's legalized on a federal level. Phillip Morris and a few have looked into it but lawyers don't want corporate monies being co-mingled with marijuana business' legal in some states but not on a Federal level. It could lead to racketeering or other criminal implications. You're starting to see some pushback on marijuana legalization already in Colorado\Washington. It's odd Cali has not pushed it through so there must be some lingering questions on Fed law.
Granite,
I look at marijuana stocks from a dual perspective.
1) VERY long position. I personally think theres a chance that the marijuana industry will thrive and become bigger. I want to own a large amount of these stocks in case that happens as I am never one to wonder "what if." Since these are worthless penny stocks, if they dont ever increase in value, its not like I will have lost much money on them anyway.
2) Immediate return with aggressive day trading. Like most worthless penny stocks these securities have a ton of volatility and respond to any amount of publicity/hype dramatically. If you are not particularly risk adverse and understand when to sell, you can make a lot of money with these stocks. Remember when MDBX went from ~13 to 90 in about 72 hours? If you put $10,000 on MDBX when it first started appearing all over the news when Colorado legalized you would have made approximately $69,230 less brokerage fees. Someone here PM'ed me asking for advice the other day on another weed stock. It went up 50% by 1015am. If you had put $10,000 on it when the market opened you'd have made $5k less brokerage fees in 45 minutes.
I do not recommend someone put their savings into weed stocks nor would I recommend someone who does not have a fair amount of disposable income to get involved in this. There is too much volatility and it really isn't worth the risk unless you can put $10,000 on each security. And then you have to be prepared to lose a good bit of that money.