Weed Vending Machine Company’s Stock Is Literally Too High

11/16/2012 2:05 PM |

Medbox.jpeg

In maybe the best weed news we’ve heard since election day, a company that makes medical marijuana vending machines saw its stock shoot up by a full 3,000% this week after being mentioned in a Wall Street Journal article on ways to invest in legalized marijuana. As you can see, the headline for this writes itself.

Apparently, though, the jolt in share prices from $4 to $215 was actually way too much, and executives at Medbox went out of their way to temper enthusiasm, coaxing prices down to $100.

“It was astonishing,” said the company’s founder Vincent Mehdizadeh. “We couldn’t really understand why that was happening other than that there was a high demand for stock with limited supply.” He added, “We believe an appropriate trading range is between $5 and $10, but, alas, the market will do what it will do.”

They do see the high share prices as a permanent reality in the coming years, though, and in their third quarter revenue jumped from $850,000 to $1.3 million.

So, the takeaway here is essentially what everyone knew: in addition to being a legitimately helpful form of medicine and a fun thing for people to enjoy, legalized marijuana has the potential to be outrageously lucrative. That, and drug vending machines are apparently way less fun than I had dreamed — watch their totally incomprehensible video tutorial for this thing over at the Medbox website, if you have Advil on hand. It involves actual fingerprinting!

Follow Virginia K. Smith on Twitter @vksmith.

4 Comment

  • The federal trade commission needs to investigate this. Medbox was not the only company mention in that article but yet only their stock sore to ridiculous high. Very suspect

  • I think it’s time we start legalizing Marijuana everywhere. Stop living in fear and start thinking about how great the future will be! LEGALIZE IT!

    Why don’t we just start legalizing it everywhere? Why are so many people still stuck in this FEAR stage…? Stop worrying, start hoping. LEGALIZE IT!

    If you live in a state where Marijuana isn’t legal yet and still want the same type of highs, I suggest checking out uIntoxicate.com. It has amazingly detailed legal highs reviews and where to get them without getting ripped off!
    Also! I’m starting up a new forum dedicated to my fellows stoners. Come on over and join the high conversations! We’re quite new, but VERY welcoming.

    CHECK IT: http://uintoxicate.com/
    STONER FORUMS: http://www.stonersofthestates.com/forum/

  • The illegality of marijuana is ref*cking diculous~!

  • Just Do It!