Inside The Pot Stock Bubble
When Michael Mona Jr. went before the Nevada Gaming Control Board seeking a license for his Mediterranean-style Sunrise Suites hotel and casino in Las Vegas, it didn’t go well. The board, reportedly wary of his ties to shady telemarketers, including one who spent time in jail, told Mona his application would be rejected. He in turn withdrew his application and subsequently filed for personal bankruptcy when the casino could not open.
Mona might not be fit for the gambling business, but 16 years later he has found a lucrative field that’s not as choosy: the pot penny stock business. Mona now runs CannaVest, the highest-flying stock in one of the year’s biggest market frenzies.
Photo Credit: Lara Tomlin