IF the old saying of “follow the money is any indication, this year will be a roller coaster for the medical marijuana movement.
Late last month, an Initial Public Offering for a company touted as “Australia’s first medical marijuana stock was wildly oversubscribed and the issue price of 20c a share looked like a bargain as within days the stock headed towards $1.
Despite the prospectus going to considerable lengths to explain the highly speculative nature of the venture, there was little restraint. After opening at 20c, the stock soon reached 92c …