Times and attitudes toward marijuana are changing, and they are changing quickly. Several things have happened in recent years to help bring about these changes.
First, medical marijuana has become more accepted because there is research showing how it can help patients with a range of problems, such as chronic pain and PTSD. States such as New York, Arizona, Florida, and Pennsylvania, along with a host of others, have legalized the use of medical marijuana.
Second, we have seen many states over the past several years legalize the use of marijuana recreationally. Washington and Colorado were the first two states to do this in 2012, and seeing the success they’ve had, others have followed suit including Oregon, Maine, Alaska, and California. In just the first year of marijuana being legal in California, it is expected to bring in a combined $20 billion or more.
Marijuana is no longer on the fringe. It is not something that people hide away, and there is certainly no shame whether they are using for medical or recreational purposes. This new attitude on marijuana has helped it become part of the mainstream. In fact, even Netflix has gotten into the field with strains named after some of the shows that they produce for their site, such as Banana Stand Kush, for the show Arrested Development and Camp Firewood from Wet Hot American Summer: Ten Years Later.
Many companies, both large and small, are now looking for ways that they can become a part of this burgeoning cannabis culture.
What Does This Mean for Investors?
Right now, it is an amazing time for investors who are looking into cannabis companies and startups. There are plenty of options available for investing with a range of different companies that might be growing for medical use or recreational use, those who are creating edibles, and companies that are making accessories that appeal to those who are a part of cannabis culture. Investing now, while it is still affordable, could be a fantastic move for investors out there.
Are There Troubles on the Horizon?
While there may be some that worry about the current administration’s desire to reach into and manipulate the state’s rights regarding legal marijuana, most feel that Attorney General Jeff Sessions’ desire to attack legal marijuana will not be successful. In fact, bipartisan movements have helped politicians work across the aisle and become far more favorable toward marijuana.
The overall attitude has been far more positive recently, and even former opponents of marijuana, such as ex-Speaker of the House John Boehner have come out in favor of cannabis. He has even joined the board of a major cannabis investment company called Acreage Holdings.
Now is the best time to start getting into this field, particularly as an investor. The investments and stocks are not going to stay as cheap as they are for long, and it can be a fantastic way to grow your money.
Resources: Provided by client, along with http://www.businessinsider.com/legal-marijuana-market- revenue-2016- 9