poledriver
Bluelighter
- Joined
- Jul 21, 2005
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Marijuana stocks favoured by investors in emerging ‘dot bong boom’
IT’S been dubbed the ‘green rush’ or ‘dot bong boom’.
Speculative investors looking for the next big thing are piling their money into marijuana stocks, creating a blooming industry described by one analyst as the “single best investment idea of the next decade”.
Minyanville Media CEO Todd Harrison, who makes a living commenting on financial trends, described weed stocks as such back in 2012.
He told news.com.au over the phone from New York that although the industry is risky and volatile, there are three reasons it’s booming right now: it creates tax revenue, lowers crime rates and helps reduce prison overcrowding.
“From an investment standpoint as these companies weave through the maze of capitalism, they’ll start getting on the radars of Wall St banks,” he said.
“I often temper what I say with ‘this is a long-term secular trend’, the meritocracy of the marketplace is going to define who winners are and sinners are.”
The emerging market comes following a wave of legislative change in the US.
While marijuana is already legal for medical purposes in 20 states and Washington DC, it’s recently been made legal for recreational use in Colorado and Washington State.
The move has led to a veritable boom in marijuana-related businesses and products, from edibles to vaporisers, which has raised more than $2 million in taxes in Colorado alone.
Across the US, the industry is estimated to be worth about $1.5 billion and is expected to grow to $10 billion by 2018, according to a report produced by industry group Arc View.
“There are many derivatives of this trade up and down the food chain,” Mr Harrison said.
“We’re seeing more and more legislation almost daily on medicinal marijuana. It’s going to be interesting to watch how it unfolds.”
Cont -
http://www.news.com.au/finance/mone...ng-dot-bong-boom/story-e6frfmdr-1226880671046
IT’S been dubbed the ‘green rush’ or ‘dot bong boom’.
Speculative investors looking for the next big thing are piling their money into marijuana stocks, creating a blooming industry described by one analyst as the “single best investment idea of the next decade”.
Minyanville Media CEO Todd Harrison, who makes a living commenting on financial trends, described weed stocks as such back in 2012.
He told news.com.au over the phone from New York that although the industry is risky and volatile, there are three reasons it’s booming right now: it creates tax revenue, lowers crime rates and helps reduce prison overcrowding.
“From an investment standpoint as these companies weave through the maze of capitalism, they’ll start getting on the radars of Wall St banks,” he said.
“I often temper what I say with ‘this is a long-term secular trend’, the meritocracy of the marketplace is going to define who winners are and sinners are.”
The emerging market comes following a wave of legislative change in the US.
While marijuana is already legal for medical purposes in 20 states and Washington DC, it’s recently been made legal for recreational use in Colorado and Washington State.
The move has led to a veritable boom in marijuana-related businesses and products, from edibles to vaporisers, which has raised more than $2 million in taxes in Colorado alone.
Across the US, the industry is estimated to be worth about $1.5 billion and is expected to grow to $10 billion by 2018, according to a report produced by industry group Arc View.
“There are many derivatives of this trade up and down the food chain,” Mr Harrison said.
“We’re seeing more and more legislation almost daily on medicinal marijuana. It’s going to be interesting to watch how it unfolds.”
Cont -
http://www.news.com.au/finance/mone...ng-dot-bong-boom/story-e6frfmdr-1226880671046
