The cannabis industry is booming in the US as states join the legalization movement and public attitudes change toward pot. 75% of Americans now believe marijuana should be legalized. The US marijuana market is a fast paced industry projected to reach $80 billion by 2030. It is an attractive investment opportunity and 211,000 jobs have been created to date.
Currently the FDA has only approved one cannabis-derived product available on the market named ‘Epidiolex‘ and three synthetic cannabis drugs Marinol, Syndros, and Cesamet. Still, they have not yet deemed that any other cannabis use is safe or effective for the treatment of any diseases or conditions. The federal government currently has marijuana listed as a ‘Schedule 1 Drug’ meaning it is as dangerous as heroin, meth, and LSD.
Humans have used cannabis for medicinal, spiritual, and recreational use for over 5000 years. It serves high nutritional value and It has also been helpful in the treatment of pain, cancer, epilepsy, multiple sclerosis, etc. but still remains illegal under federal law although the plant is far less harmful than alcohol, pharmaceuticals, and tobacco.
If you are going to invest, the best time to invest is today. It may be like getting into Apple, or Amazon early. Marijuana as an industry that could thrive, but not every company will be successful-just like any market. When you buy a stock, you are buying a share of a company and as the company does well your investment grows. It is hard to predict which company will do well in any market, so experts recommend buying shares in a couple different companies.
It is important to evaluate if you truly believe in the future of the cannabis industry because it is ultimately a long term investment. One thing is certain. Legal cannabis is here to stay for the foreseeable future, and it will eventually be seen as a ‘normal’ product. When looking for a company to invest in, look at how the company operates and brands. Look at their production costs and growth strategy. Measure if the company will market well internationally and keep your eyes open. Reading magazines, the news, and blogs is simple research that can be done daily. One of the biggest variables that will affect this industry is the extent that marijuana be eventually decriminalized or legalized, so it is very important to keep up with politics.