Tweed Marijuana Stocks: 3rd Most Traded In Canada Went Up To 183% Last Friday

Over the weekend, the Smith Falls, Ontario-based company disclosed that it purchased over 60 new strains of medical marijuana seeds and plants from licensed growers. The firm’s current market value is $89 million.

Tweed will sell 25 strains to Canadian patients for $5-$12 per gramme, shipping included. Minimum order is 1 gramme, and delivery is via bonded courier.

Health Canada estimates that within the next decade, the medical pot market could grow to $1.3 billion.

In the U.S., medical marijuana shares have ballooned at even higher rates. For 2014, shares of Tranzbyte Corp, which sells cannabis in Colorado following the drug’s legalisation, soared 2,352 per cent. Another firm, GreenGro Technologies, provider of management services to medical marijuana dispensaries, enjoyed an 892 per cent boost in its share prices since January.

However, Metro Canada columnist Alison Griffiths warned against placing too much faith in marijuana shares since the cannabis industry is “too young to qualify as a sound investment or even a reasonable speculation.”

She cited that some stocks such as that of Advanced Cannabis Solutions (CANN), Hemp Inc (HEMP) and GrowLife (PHOT) are mostly traded informally over-the-counter exchanges or bulletin boards, making its trading volume data dubious if not erratic.

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