No, I'm not talking about growing it in your attic, silly! But ever since November, when Colorado and Washington states essentially legalized the recreational use of marijuana, there has been increasing buzz in the financial sector about the future market for marijuana, and what it means for investors.
In general, the consensus seems to be that all roads lead to eventual nation-wide legalization for medicinal and recreational purposes. In fact, there are stocks now available for adventurous investors. Medical Marijuana, Inc. is already trading publicly as an umbrella company for PhytoSphere, WellnessManaged Services and CanChew Bio-Technologies, all distributors of medical marijuana products. Other publicly traded companies include Hemp Inc., GreenGro Technologies and Growlife.
But before you cash in your IRA and invest your life savings, bear in mind that, while promising, there are no guarantees that the trend toward legalization will continue. If it does, universal legalization is still years down the road. And when pot finally is legal, the companies presently selling shares may or may not still be around.
So, if you want to dabble in today's marijuana market, take a puff but don't inhale. Your money could go up in smoke!
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