You are here

Home 🌿 Marijuana Business News 🌿 SEC Tries Figuring Out the ‘Dot-Bong Era,’ Irks the Wolf of Weed Street 🌿

SEC Tries Figuring Out the ‘Dot-Bong Era,’ Irks the Wolf of Weed Street

Submitted by Marijuana News on Wed, 05/21/2014 - 12:18

The recreational and medical cannabis industry is booming, and start-ups are sprouting like grass. With the legal pot market expected to grow from $2.3 billion this year to $10.2 billion by 2018, according to a study by ArcView Market Research, there’s no shortage of investors willing to gamble their capital on the chance of mountain-high marijuana returns.

The US Securities and Exchange Commission advises these investors to slow their roll. In the last two months it has suspended trading for five penny stocks of companies involved with cannabis, prompting a warning to the public about the legitimacy of marijuana-related investments and the likelihood of scams.

“Recent changes in state laws concerning medical and recreational marijuana have created new opportunities for penny stock fraud,” Elisha Frank, co-chair of the SEC Enforcement Division’s Microcap Fraud Task Force, said in a statement.

But a commentator on the emerging cannabis...

Rate this article: 
Region: 
United States

This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.


URL: 
https://news.vice.com/article/sec-tries-figuring-out-the-dot-bong-era-irks-the-wolf-of-weed-street

420 Intel is Your Source for Marijuana News

420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.

420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.

Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.

You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.