Over the past two years, investors bid up penny stocks, which are stocks that trade for less than $5 a share, for marijuana from a $500,000 market to more than $7 billion, Bloomberg reported. [...] But some people within the industry are highly skeptical. Brendan Kennedy, chief executive officer of the marijuana giant Privateer Holdings, told Bloomberg that the public marijuana companies are "full of shenanigans and charlatans." He added, "Most of them will revert to zero."
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