High on hopes of a profit
Ya gotta love capitalism. The lure of a buck (or a quick quid) is said to resemble both an adrenalin rush as well as an aphrodisiac and, if you get your hands on some, is supposed to be as good as euphoria. What a trifecta!
And now, to add some spice to a mostly otherwise dull index of investment vehicles, there’s a whiff of something pungent wafting through the markets as canny buyers seek a good supply of potential profit.
The majestic mark-ups customarily associated with the retailing of cannabis has started a rush of cashed-up enthusiasts keen to get – if not the dreaded weed itself, then the multitudinous practices associated with it – accepted as legitimate products of exchange.
Suck it in, hold your breath and, before you exhale, consider the motivation of sundry brokers, spivs and other hangers-on desperately hoping for some stimulus to offset the lingering lassitude afflicting post-GFC markets. There may just be some forceful momentum behind this superficially fanciful romp.
The recent US elections saw a relaxing of attitudes towards cannabis consumption with two states, Washington and Colorado, voting in favour of recreational usage of marijuana and Massachusetts becoming the eighteenth state to permit medicinal use of marijuana.
One new wave company cashing-in on the medicinal use of grass calls itself Medbox and produces ATM-like machines that dispense marijuana to users identified by their fingerprints.
Such is the rush produced by Medbox that its shares have soared 3000 per cent in just a week. They were worth a notional $45 million a wee while ago but now enjoy an estimated value of more than $2 billion. Anyone for a quick and discreet offloading of a few shares just in case this high doesn’t last?
Medbox is not the only entity soaring to new highs on this blissful mood sweeping the markets. One of note is Medical Marijuana which offers, word on the street has it, over fifty ways to consume the magic weed. Gotta love it.
Could this be the wondrous bubble the markets have been desperately seeking for the past three years? Ah, but then bubbles always burst don’t they? Bummer, man.
Acknowledgement: Rhys Blakely, The Times reprinted in The Australian