December 06, 2018 08:11 AM
Can weed make you some green?
As legalization of recreational pot spreads across North America, more people are investing in the cannabis industry. Canada legalized recreational weed earlier this year and there are several U.S. states that have done the same.
Experts say legal marijuana is already a more than $9 billion industry, and in the next three years it's expected to double that.
Like any other investment, buying into the cannabis industry has its risks.
There are a few different opportunities to invest. Both recreational and medical marijuana offer opportunities to buy stocks in a company or support private companies directly.
If you're looking to invest in a company, be sure it's legitimate. You should read their business model and financial statements. Always make sure they have revenue and profits.
George Conboy, chairman of Brighton Securities, points to Constellation Brands. The local company now owns a large share of Canopy Growth, a Canadian cannabis company.
"That doesn't mean it’s an appropriate investment for everyone and investors should still look carefully before they invest...but we have in our own backyard one of the largest players in the Canadian cannabis market," Conboy said. "I think it's reasonable to expect when the U.S. cannabis market goes national, Constellation Brands is likely to be a player there as well."
You should always do your research before dumping your money into any company or buying any stocks. If you need help, consult a financial advisor or stock broker before making a decision.
Also, be cautious of companies that advertise weed investments on TV or the radio. There are plenty of scams out there.
Updated: December 06, 2018 08:11 AM
Created: December 06, 2018 08:08 AM
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