I never thought in a million years, or at least in my lifetime, there would be a chance for a Gen-Xer, such as myself, to be able to buy Pot Stocks in the stock market. Who knew? But is all the hype true?
Mainstream companies are buying up Cannabis stocks left and right. If you’re holding the right ones, you could make a fortune! The minute Canada was on the map and legalized the adult use of marijuana it was off to the races. Not only buying shares of Canopy Growth Corporation, there were other players fast behind, like Aphria,Inc(Tsx:APHA) and Organigram(TSX-V:OGI). Following the announcement and support of the legalization from the new prime minister, these stocks went to the moon. As a typical Canadian would say, pretty cool Eh?
As much as I would love to be a Canadian and live a simpler life, I’m pretty focused with our own country making its own headway. The past few years have been hugely profitable for early pot stock investors, and the truth is we’re just getting started.
The Canada cannabis market will never see those kind of shares again, but the United States will. With individual states legalizing marijuana and presenting multiple outlets to make a ton of cash, there are far more opportunities to profit from here than anywhere else in the world. In hopes that the cannabis prohibition will be fully repealed in all states, there are a few states to look out for.
New Jersey, being one of those states, is closer than ever. Governor Phil Murphy has included legal cannabis revenue in his budget proposal of $60 million. Then there is the Big Apple to keep your eye on. New York is expected to be worth greater than $3 billion a year once legalization is approved. Big name companies, such as Warren Buffet, Coca-Cola and Heineken, are swiping cannabis stocks off the shelves. If you’re holding the right ones, you could make a fortune.
You can check out a list of other states set to legalize over the next couple of years, along with the names of the public companies that already have exposure in those states like MariMed,inc.(OTCMKTS:MRMD). It can seem like an egg hunt at first, but you might find it easier than you think, as a good amount of startups are shifting their businesses to develop cannabis related products. We know the monetary benefits are there and that those will continue to grow in the years to come, as more research and benefits surface. It’s refreshing to see companies come up with new ideas on how to use these products to help people while making a profit at the same time. It’s truly a win-win!