Marijuana Investors Lost $23.3 Billion in Penny Stocks Last Year

Investors in small cannabis companies lost $23.3 billion in 2014 because shady stock promoters are capitalizing on the slow tide of legalization in the US by manipulating the penny stock market with “pump and dump” schemes. Penny stocks are stocks in small companies that trade for less than five dollars apiece. They’re quoted and traded on dealer networks like OTC Markets because they don’t meet the requirements to be traded on more formal exchanges like the New York Stock Exchange.

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