By Gil Martin
So many investors wish they could go back in time and buy stock in Apple in the late 1970s or Amazon stock in the late 1990s. That would allow them to get in on the ground floor of an exciting new type of company that took off and made a big impact on the world and the investment market.
Today, one area that may provide these kinds of opportunities are marijuana stocks. Right now, with marijuana becoming decriminalized, legalized and used for medical purposes across the United States, there are many opportunities for investors to get in on these exciting stocks while the market still has the potential to take off.
Here are three reasons to consider investing in marijuana-related stocks right now:
1. Legalization is Becoming More Common
Only a handful of states still criminalize marijuana. In the 45 or so remaining states, there are different levels of legalization but the trend is clearly headed towards increased legal access to marijuana.
In some states, you still need a doctor’s prescription for medical marijuana products. This allows people suffering from chronic pain like cancer patients, people suffering from arthritis or other conditions that cause pain on a regular basis. This means that millions of people around the country can purchase marijuana products if they have a doctor’s prescription.
Because many of the people using medical marijuana are treating conditions that aren’t going away, they will need prescriptions for marijuana products over the long haul.
Demand is high and you can often see long lines of people outside stores that sell legalized marijuana products.
In other states, marijuana has been completely legalized and decriminalized. This means that it can be sold openly in stores throughout these states.
You can track the laws in your state here.
2. The Trend Continues to Move in the Right Direction
Fifty years ago, many members of the Baby Boom generation used illegal marijuana products while their elders were often horrified by their use of what they considered “dangerous” drug use. But now, those Baby Boomers are senior citizens. That means that almost everybody under the age of 75 in this country grew up in a society where marijuana use was quite common and socially acceptable.
The present generation of teenagers grew up in a situation where marijuana products were legal and they are comfortable with the use of these products.
Meanwhile, the generation of people who feared marijuana are getting older and passing away. As time goes by, they will have less influence on elections and the acceptance of marijuana use will only increase.
3. States Raise Money By Taxing Marijuana
Another reasons states will continue to liberalize marijuana laws is to raise revenues. Each state government can tax legalized marijuana products to raise revenues which can help the state provide important services that range from medical care, repairing roads or even helping to pay for police services.
The need for additional revenues will only encourage states to liberalize marijuana laws and allow more people to have access to marijuana products.
All these factors indicate that legalized marijuana is only likely to expand in this country and that will mean more companies can take advantage of this trend. Investors can take advantage of the opportunities available to them as this sector of the economy grows and becomes more prominent.
For more information about investing in marijuana-related stocks, click here.