Cannabis stocks saw a big bounce Thursday, following the beginning of legal recreational cannabis sales in Colorado. One company that saw a large increase was Medbox, a maker of cannabis dispensing machines; as of today, trading for the company was up 57.01% at $28.67. Just last week, the stock traded for roughly $10.
Other related stocks that were on the rise Thursday included Hemp Inc. (HEMP), GrowLife (PHOT),Greengro Technologies (GRNH), Medical Marijuana (MJNA), Tranzbyte (ERBB) and Cannabis Science (CBIS). Both GrowLife and Medbox have reached market capitalizations above $100 million.
The rise of these – and similar – stocks are likely to increase as cannabis laws reform around the country. The legitimization of these stocks, in turn, will help to further bring cannabis into the mainstream.