Markets Magazine
Legal Pot Sets Off Penny Stock Frenzy as Investor Weiner Profits
This article is for subscribers only.
The Milken Institute likes to keep up with the newest new thing, so it was no surprise that its April conference in Los Angeles included a panel on investing in marijuana.
The moderator, Mike “Zappy” Zapolin, a trainee at Drexel Burnham Lambert Inc. when junk-bond king Michael Milken reigned there, spent several minutes talking about Zappy Inc., a company he’s formed to profit from cannabis. Another member of the panel, Craig Ellins, showed an infomercial for the hydroponic pot-growing chambers developed by his new company, GrowBlox Sciences Inc.