Last week we posted a story about legal ways to invest in the medical marijuana boom. One of the suggested companies whose stock is publicly traded, Medbox, says it’s stock price is now ridiculously high after climbing 3000%. Story from MarketWatch:
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A company that creates medical-marijuana dispensing machines says its stock is getting way too high.
Medbox shares surged 3,000% this week — from roughly $4 Monday to $215 Thursday — before falling to $100 after executives sought to dampen investor enthusiasm.
In a news release today, the company said that the stock’s rocket launch, which sent its market cap skyrocketing from $45 million at the start of the week to a staggering $2.3 billion, was ignited by a MarketWatch story Tuesday on how to invest in legalized marijuana (see How to invest in legalized marijuana .) (That’s about double the market capitalization of retailer Jos. A.