This article originally ran on October 25, the ad is again circulating in slightly different form and sending a lot of questions our way, so we’re re-publishing it here for you today… the basic spiel and the stock are still the same, though they’re being used to pitch a different newsletter. The stock has bumped up by 20% or so in the ensuing six weeks, and been quite volatile. What follows has mostly not been updated since the article originally appeared, but I did make a few edits and updates to reflect some changes in the ad… and since I do own the shares, I have added an updated note on my thoughts at the bottom.
When you’re not sure what to do with a wildly whipsawing market, and know that probably you shouldn’t be doing much of anything, why not again look at… marijuana stocks?
There’s an ad rolling through from the Investing Daily folks for their Personal Finance newsletter ($40/year… though the same ad was previously used to pitch their Income Millionaire service at $1,495/year, nonrefundable, so I guess they’re going downmarket now), and it promises the same thing a lot of other newsletters have touted lately: checks in the mail. Who doesn’t love checks?
As with so many similar ads, we get teased with impressive-sounding income checks from this program — $4,416, $6,480, $13,890, it all sounds like a lot of money — but we’re never told how much you have to INVEST to make those kinds of returns, of course, that would pop our “oh gosh I hope it’s true” bubble… so we’ll look into that as we go along, too.
But what eager Gumshoe readers want to know, of course, is “what’s the secret?” This is pitched as “one company’s unique marijuana profit-sharing program,” this is how the ad starts:
“100% Legally-Backed by the Full Authority of the U.S. Federal Gov’t
“A small group of everyday Americans are earning up to $55,563 a year from one company’s unique marijuana profit-sharing program.
“Here’s the one step you must take by
October 25December 5 to qualify for the next check run.”
Oh crap, that’s TODAY! How do we qualify for the “check run?”
Cool your jets… that’s probably just a made-up date that’s designed to get you to subscribe quickly, before you’ve had a chance to think it over. I’ll check when we confirm the company here, but most of the time those dates seem to mean “you have to subscribe to my newsletter by this deadline, or I’ll miss my next boat payment.”
The ad is signed by Jim Pearce, who runs most of the Investing Daily newsletters these days… and who has signed a bunch of similar letters promising “income checks” of various kinds in various industries before, though this is the first marijuana-related spiel I’ve seen from him.
Here are some more tantalizing clues from Pearce:
“I’ve found a tiny Maryland company with a revolutionary new mariju