Struggling Junior Miners Watch Penny Stocks Grow Thanks To Medical Marijuana

By Sunny Freeman
HuffingtonPost.ca

A flurry of Canadian resource exploration companies are abandoning the dream of striking it rich in the gold rush in favour of what they see as the next big thing: the green rush.

The Street is starting to take notice of a trend in penny stocks jumping into the medical marijuana industry. A number of shell companies are appearing on the market, while other resource companies in the struggling sector are diversifying in search of greener pastures.

Most of these companies have neither seedlings nor medical marijuana licences, but that has yet to deter eager investors. Their share prices still go soaring at the hint of a joint venture with a pot producer or the arrival of a new board member with a marijuana-laced resumé.

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