Category: Baystreet Newswire Company: TDM Financial ID: 411078 Date: Tuesday, January 21, 2014 Ticker: OTCBB:AFAI January 21, 2014 / Cannabis equities gained ground over the past week as ballot measures in various states gained steam. Alaska could become the third state to legalize recreational marijuana after "The Alaska Campaign to Regulate Marijuana" submitted about 46,000 signatures to land it on the August 19th primary ballot. At the same time, Washington D.C. activists began a campaign called "DCMJ 2014" to put the initiative but has yet to collect the 23,000 valid signatures required to get it on the ballot. In the public markets, cannabis equities steadily gained ground last week after a turbulent start to the year. The Marijuana Index surpassed 26.00 by early trading on Friday after falling below 25.00 last week after its rally to nearly 40.00. While the sector remains volatile, FINRA's warning should help calm the market and encourage more long-term trading by weeding out fraudulent companies. What's New Cannabis stocks were more tame last week than the week before as short-term speculation began to abide. A warning from FINRA helped quiet some of the market but volatility still remains well above the market average. Companies like Alternative Fuels America Inc. (OTCBB: AFAI) extended gains by 20% or so while others like GrowLife Inc. (OTCBB: PHOT) experienced some profit-taking after a strong move higher. Here are some of the biggest stories last week: - FINRA Issues a Warning - FINRA issued a statement saying that the legalization of cannabis in several states has led to a lot of media attention but investors should be aware of potential scams and the risks associated with limited liquidity. Read the full letter on FINRA's website. - GrowLife Expands StealthGrow - GrowLife Inc. (OTCBB: PHOT) announced that it would expedite the launch for its new Stealth Grow line of commercial growing equipment to early February. New products include reflectors, T5 florescent lights, grow tents, timers, pumps and more available at its retail locations. - Advanced Cannabis Solutions Signs Lease - Advanced Cannabis Solutions (OTCBB: CANN) signed a long-term lease for its recently purchased Pueblo County grow property with a premier Pueblo grower. The 8-year lease of the 5,000 soft facility on 3 acres of land marks the first official deal for the new company that aims to become a premier cannabis landowner. - Plandai Biotech Secures Naming Rights - Plandai Biotechnology Inc. (OTCBB: PLPL) signed a deal with Diego Pellicer to use the name for its cannabis extracts in medical and pharmaceutical marijuana applications. The deal should give the firm stronger name recognition fro its products during the early stages of the medical and recreational marijauna boom in the U.S. - SK3 Group Tests New Skincare Products - SK3 Group Inc. (OTCBB: SKTO) announced that its seeking participants to test its new proprietary cannabinoid-based skin care products. Early studies have shown that cannabinoids may be effective against various types of skin disease using a variety of mechanisms of action. What to Watch This Week Investors will be watching a number of events this week, including progress made in the Washington D.C. campaign as well as updates from many new companies in the space. Traders could see some additional profit-taking from the move higher but over the long-term more investors are moving into legitimate companies in the space as short-term speculators exit. About CannabisFN CannabisFN.com is a dedicated financial network covering new, emerging and established companies operating in the burgeoning multi-billion dollar medical marijuana (“MMJ”) and cannabis industries. CannabisFN’s coverage is syndicated on the leading industry specific and mainstream financial websites and social media. To learn more and request a media kit, visit http://www.cannabisfn.com . To subscribe to the CannabisFN newsletter or read additional coverage on cannabis laws and investments, visit http://www.cannabisfn.com .
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