This year, the cannabis industry is supposed to grow exponentially, and only increase as the years go on. It is noted that several investors have already raked in over 2,000% on some fresh IPO’s and smart picks. As legalization hits more states, the market is only expected to get bigger.
Here are a few reasons why investing in marijuana stocks is the smartest thing you can do right now.
Investing in marijuana should not be an ethical issue. Cannabis’ potential is so large that ethics are no longer an issue in the market. As profits rise, so does the plant’s popularity.
A survey that was done recently showed that almost 8% of Americans older than 12 regularly used marijuana in 2012. The number now has gone up to almost 15%, around 50 million people. In addition, more are using the plant that do not admit to it, which raises the number even higher.
Today, teenagers are 80% more likely to smoke pot than they were in 2012, only 5 years ago.
Last year, the legal marijuana industry pulled in over $5.4 billion dollars. This is only in a country where four states of fifty have made marijuana legal for recreational purposes while 24 of the 50 states have legalized the plant for medicinal use. Some project that once the other states are included, the industry could reach over $200 billion. So now it is clear that whether a select few individuals are okay with marijuana or not, there’s no stopping this freight train.
You can choose to shift your eyes away, or you can take the choice to cash in on the potential profits of investing.
After years of price swings, legislation, and political pushing for legalization of recreational and medical use, marijuana has finally found its first major financial backer.
The founder of PayPal and famed venture capitalist, Peter Thiel recently dropped $75 million into the cannabis industry via Privateer Holdings— a Seattle-based company with substantial investments in various marijuana-related enterprises. Thiel’s Founder’s Fund has been on the ground floor of many other widely profitable sectors such as; Facebook, Spotify, and Airbnb. So it’s safe to assume his thoughts on the industry are correct.