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BaFin Warns Investors to Steer Clear of Marijuana Brokers

“BaFin, the federal financial watchdog in Germany, also indicated that Cannabis Trader displays address details on its website which are non-existence, and that its domain is registered anonymously” writes Aziz Abdel-qader for financemagnates.com. Germany’s watchdog BaFin has published a statement warning of the activities of “Cannabis Trader”, a company that appears to be offering marijuana derivatives products without complying with its financial legislation.The marijuana companies themselves have been busy expanding their capacity, diversifying their product lines, and making acquisitions, all in an effort to improve differentiation from their peers and bolster their long-term growth and profit outlook.Over the past couple of months, marijuana stocks represented a lucrative opportunity for investors, and thus retail brokers have stepped in to cater to this demand. But even the ‘real’ cannabis industry – sometimes referred to as the Wild West of investing – is littered with high-flyers, potentially over-valued companies, and scams.
 
Source: financemagnates.com



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