Marijuana Snake Oil: Six Marijuana Scams To Avoid
As a cannabis business attorney, I see and hear more than my share of kooky and downright bad business pitches. Bad business ideas are one thing, but total scams and rip-offs are another. Unfortunately, like any new and high growth industry with complicated and constantly changing rules and regulations, the marijuana industry is chalk full of scammers and con artists.
The following six marijuana scams are the ones I am seeing most often of late.
- Marijuana penny stocks. As the SEC keeps pointing out, many publicly traded cannabis companies are vehicles for investor fraud. We write about these time and time again on our blog:
Too many publicly traded stock companies are more focused on selling their stocks than on competing in the market. The herd mentality of investors seems to encourage this. Here’s how that basic logic works: Marijuana is booming. Therefore, marijuana businesses must be booming. In turn, all
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