The Marijuana Miracle That Saved Biotech

by Greg Guenthner
Daily Reckoning

Hear that?

That’s the sound of exploding biotech stocks. As oil reverses lower to begin the new trading week, the hot money is flowing back into drug stocks. Literally…

A little company called GW Pharmaceuticals (NASDAQ:GWPH) just announced a new marijuana-based drug that successfully reduced seizures in children suffering from severe epilepsy. Now the company is taking its late-stage trial findings to the FDA for approval.

This was huge news for GW Pharma – or yuuuuge, as the Donald would say. Its shares had fallen more than 70% over the past eight months as investors shredded the entire biotech sector. But yesterday’s news sent GWPH off to the races. Shares jumped more than 100% as the opening bell rang…

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