Pot-Machine Maker: Dudes, Stop Buying Our Stock
Medbox shares soar 3,000% after story
By John Johnson, Newser Staff
Posted Nov 16, 2012 3:50 PM CST
A marijuana grower shows off his plants.   (AP Photo/Matilde Campodonico)

(Newser) – Need more evidence that marijuana is going mainstream? A company that makes pot-dispensing machines had to put out a news release today asking investors to chill, reports MarketWatch. Shares of Medbox were selling at $4 on Monday but jumped to $215 yesterday—a staggering 3,000% increase—because the company got a favorable mention in a previous MarketWatch story headlined "How to invest in legalized marijuana." The tactic worked, at least a little. Shares were recently hovering around $100.

“We believe an appropriate trading range is between $5 and $10 but, alas, the market will do what it will do,” says company founder Vincent Mehdizadeh.

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Showing 3 of 13 comments
Nwambe
Nov 20, 2012 4:55 PM CST
Good guy pothead says: "Hey, don't let us make too much money, otherwise we won't be able to keep making money." Pot. Making businessmen make sense.
JoeQ
Nov 16, 2012 9:51 PM CST
..
mind_riot
Nov 16, 2012 8:23 PM CST
sure investment is fun . . . but have you tried investing, ON WEED?