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Dr. Bruce Bedrick, MedBox CEO, on the major bump the company has received since the legalization of marijuana in Washington and Colorado.
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Stopping too high hop -- box is the company that makes machines that dispense medicine based on fingerprint scans.
Its stock skyrocketed.
By a story and how to invest in legalize marijuana shares surged 3010.
Per -- last week.
From about four box on Monday.
To 215.
Dollars on Thursday.
Before falling back to about fifty dollars a share do you think that this is great news for the company and their shareholders -- actually has the CEO.
A little concerned with me now and a Fox Business exclusive is -- CEO doctor Bruce Frederick.
Welcome to the show you why I mean 11 what do you think of the fair price -- The stock of you watched ago on this roller coaster ride what do you think the right prices.
Wolf thanks for having me -- let's I appreciate.
You having me on.
And to answer that honestly I don't know what our fair prices is because it's been all over the board.
I can definitely say we are not 2.4 billion dollar company when we -- up above 200.
But -- box is uniquely positioned in the marketplace as leaders we -- are the most successful.
Industry -- -- and we have some for very very creative and powerful technology that enables.
The medicine to -- inventory control -- -- and dispensed in the safest and see.
Didn't address is a real problem that's out there because I -- what we're seeing is obviously you marijuana has been legalized in Washington in Colorado at -- -- time.
We've seen 500 of the estimated 3000 dispensaries nationwide.
Have been shot down.
Because up in large part because of problems dispensing medication you have a machine.
That allows people to get it with their fingerprint do you think that this is something that's gonna really catch -- expand.
Well I believe so not just in the medical marijuana industry but also in the traditional pharmaceutical industry we are particularly poised.
To.
Really offer some creative value and some amazing economics.
For the traditional -- pharmaceutical industry as well.
On and I think any time you can validate and verify and be transparent and control inventory of controlled substances.
That you really need to be significantly.
Considered.
Interest do you have I -- -- places beating down your doors I mean do you see your business doubling give -- a sense for what we're talking about because the way your stock has moved.
It's difficult about your business.
It is very difficult to value and the problem is is that we don't have a large floats com all of the the press and coverage that we received.
Has been obviously uneven on your show today Wall Street Journal.
Has made a few articles and at least a few articles on our behalf.
Or about us I should say and it's all been since the election I believe that.
Medical marijuana and marijuana in general needs to be discussed on a national level because -- has significant impacts.
On of the economy the prohibition just doesn't work -- -- this is a money show but if we can all come to an honest discussion about.
What medical marijuana or marijuana can do when our economy it in -- in tax and -- it creates revenue is basically what you're saying yes yeah.
Its -- it's healing all the way around not just for our patients not just for businesses but for taxes and everybody else.
To hold another discussion doctor brisket -- isn't it -- whatever it is that you're hearing -- -- -- my thank you Melissa thanks so he may be new to politics but he knows a whole lot about the world's hope.
For -- and we're gonna talk to a brothel owner turned county commissioner coming up.
