Marijuana Vending Machine Maker’s Stock Skyrockets and Everybody Freaks OutBased on this month's election, the idea legalizing marijuana seems more popular than ever. Two states, Washington and Colorado, have legalized pot at the state level. With the legal marijuana market looking stronger than ever, there are companies out there looking to build around big-marijuana when commodity reaches critical mass. For now, most of those companies are waiting in the wings, but not medical supply distribution producer MedBox, which has been thrust into the spotlight. The company, which makes vending machines for hospitals, pharmacies, and “alternative medicine clinics,” has seen their stock price rise by 3,000 percent since the 2012 election. You'd think MedBox' executives would be ecstatic, but in reality, the company is terrified of what will happen now that they've suddenly become so popular on Wall Street.Read on...
Los Angeles City Council Bans Marijuana Dispensaries
Yesterday, the Los Angeles City Council voted unanimously to enact a citywide ban on medical cannabis dispensaries. The council's vote was tallied 14 - 0 in favor of the ban. In roughly 30 days, Los Angeles' 762 legally registered dispensaries will receive an order to shut their doors to patients. The fact of the matter is, the L.A. City Council is making a divisive call that could affect thousands of citizens legitimately suffering from debilitating ailments.Read on...