Should You Buy Stocks In The Emerging Marijuana Industry?
Marijuana stocks have been around since I started this blog in 2010. Many companies have come and gone. Some have changed their name, some have remained the same. But things have changed a lot since 2010 in the marijuana stock world, especially this week when the world got it's first taste of what legal marijuana sales looks like.
As is the case in almost every sector of the marijuana world, the game changed for marijuana stocks after Colorado started selling legal recreational marijuana. A lot of media outlets pointed out that marijuana stocks surged this last week as interest rose along side rising marijuana sales in Colorado. The stock prices aren't staggering, but they have improved no doubt.
I have received more questions about marijuana stocks this week than I ever have before from readers. People want to know which stocks are 'good' and which ones are 'bad'. To be perfectly upfront and honest, I don't own any stock, marijuana company stock or otherwise. So take my advice for what you will.
I may not know much about stock, but I know A LOT about the companies that are offering them. I haven't seen anything that is impressive enough for me to pull out my hard earned money and invest it with any of these companies. That's not to say that I never will, or for that matter I'm not even saying I'm right in my investment strategies.
What I'm saying is that I have an above average knowledge of the marijuana consumer, the marijuana industry, and where things are headed, and I'd rather invest my money in dabs right now than marijuana stocks. But I'm willing to open this up for discussion and debate, and I challenge anyone out there to persuade me to purchase marijuana stocks. It can be the companies themselves, people that have already purchased marijuana stocks, or anyone else that feels like I'm missing the boat.
I have $1,000 set aside right now, I challenge people to convince me, the biggest skeptic of marijuana stocks on the planet right now, to invest that money into a marijuana company owning stock. If someone is successful in persuading me, I will absolutely post an article about why I chose to invest, and with which company. Until then, invest wisely, and know that I haven't purchased a single stock due to the fact that the companies I've seen selling stock don't have a solid business model and/or their company is mostly smoke and mirrors in my opinion. Yes this is the gold rush of our generation, but a lot of people got ripped off during the gold rush. Make sure to remember that when you are considering investing in the industry.