It can’t be denied that the medical marijuana market is escalating. In states that have recently legalized marijuana, tax revenues have soared into the millions, exceeding expectations. And, to the extent that this legalizing expands, it is likely that tobacco companies will enter the field.
But, before we put together our own conclusions, we wanted to hear your view. We asked in today’s poll: Would you invest in a company that produces medical marijuana?
At the time of this post, the clear majority favored 80% responding YES; 20% NO.
Many voters who chose YES agreed that as long as the product was legal, they’d be comfortable investing in it. Additionally, several noted that marijuana has proven and obvious benefits in the medical field.
Other noteworthy YES comments included:
- “It's a business like any other. Like tobacco, I think people are nuts to use it heavily but they're all grownups. If the company can make consistent, superior returns and is priced attractively one should own it.”
- “It'd probably be better than investing [in] pharmaceuticals, which are crap-shoots with the FDA.”
- “It is obvious that marijuana use will become fully legal, probably with the same kind of controls now applied to alcohol and tobacco. There’s too much social acceptance, opportunity for tax revenue, and by the way, serious political pressure from Latin American countries that have paid the price in hundreds of thousands killed because US drug users won't give up their habit.”
- "It's a burgeoning market with extensive pent up demand and a virtually undeniable medium-term growth trend... And it's green, man.”
- “I think it’s a dope idea...I would invest in any company that was well-managed with a competitive advantage or a disruptive product.”
One responder over in the NO group, however, put it this way: “I wouldn't invest in these stocks for the same reason I wouldn’t invest in tobacco or alcohol stocks. I just think that, on balance, all of these products aren't good for people. That said, I'm not casting any moral aspersions on legalizing or using marijuana. In fact, I agree with the decision to make it legal. I just wouldn't personally invest in these types of companies.”