Medical marijuana is currently legal in 30 states. Of those, six also allow the use of cannabis, or marijuana, for recreational use. With over two decades worth of literature compiling how cannabinoids can aid with everything from anxiety to cancer, there is a high likelihood that other states will soon follow and lift the ban that has been in effect since the 1930s. If that happens, those who invest in cannabis tech companies and the industry as a whole will experience enormous profits.
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Due to the psychoactive nature of the THC in marijuana, the medical community was concerned about the potential for substance abuse and addiction. And, therefore, it was banned for legal use in America. But, as technology is advancing, studies are coming to light about all the benefits that cannabinoids offer the medical community. If other states follow suit and allow the use of medical marijuana, and potentially even its recreational use, it will bring a windfall of profits for those who are forward-thinking enough to invest now.
The Growth Of The Cannabis Industry
It isn’t just the United States who is reconsidering the legalization of cannabis. Mexico legalized the use of medical marijuana last year, and in June of 2017, Canada began allowing the purchase of marijuana for recreational and medical use. The cannabis industry is growing at a rate of billions of dollars each year.
How Can You Invest In Cannabis?
There are many ways that you can invest in the cannabis industry. Investors who want to get in now have nine different components to consider in the cannabis market, including many cannabis tech companies. Buying stock in any of the following can offer an exponential return on your investment dollars:
- Marketing and packaging companies
- Cannabinoid-based pharmaceutical makers
- Cannabis streaming companies
- Nutrient-oriented companies
- Real estate for farm growers
- Marijuana breathalyzer technology
- Exchange-Traded Fund (ETF)
The Proof That Profits Will Soar
California, which currently allows both medical marijuana and recreational use, estimates that its revenue over the next few years will reach over $20 billion. With all the legal states combined, in 2017, cannabis retail and growing reached over $717 million, and projections are that it will exceed $50 billion in just the next five years. With twenty states still considering legalizing marijuana for medical – and potentially recreational – use, those who invest in cannabis stand to gain big. As with any financial investment, those who get in early, gain the most. If you are considering investing in the cannabis market, now is the time. There is no reason to believe that a slowdown is on the horizon. In fact, projections are that the marijuana industry will have a significant impact on the stock market as a whole, especially if other states lift the ban on its use. Now is the time to invest! Contact Maricap Financial today to discuss what the best course of action is for investing in cannabis for the future.