Who Is David Weiner Of The Pot Penny-Stock World?

maryjaneHe owns three Signature condominiums developed by the MGM Grand in Las Vegas, property records show, and once paid $3.3 million for a house on the beach in Santa Monica. He has bought and sold cars like other people sell coins, Ellins says. To him, they’re toys. He’s the guy that goes for the high risk, high reward. When David lends a company money, its usually when they cant get it anyplace else. With GrowLife, Weiner joined an investor frenzy for any product related to marijuana.

The sale and use of pot is now approved for medical purposes in 22 states and the District of Columbia and is legal for recreational sales in Colorado and Washington state. That has entrepreneurs and investors seeing green both kinds.

“We’re talking about a 50- to a 100-billion-dollar industry that’s just starting”, Zapolin said at the conference. “There are now at least 130 public companies that claim to be in the pot business, and most of them are so-called penny stocks , defined by the ‘ as stocks trading for less than $5 a share. They often trade in the risky and potentially lucrative over-the-counter market.”

To read more, visit http://www.thecannabist.co/2014/06/18/david-weiner-penny-stocks-marijuana-bloomberg/14220/

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