Is Legal Marijuana the Right Investment for You?

September 7, 2017
144 Shares 3,709 Views

Since Colorado and Washington legalised recreational marijuana in 2012, investors have been looking for a way to cash in. And why not; the cannabis industry looked like the alcohol market post prohibition. Suddenly America had a new commodity that had billions of dollars of proven revenue in the black market. Of course that would translate to the legal market, right?

laweekly.com

According to LA Weekly source Jacqueline McGowan though, don’t just jump into the deep end.

“Do your own due diligence. There is no shortcut to that,” said Jacqueline McGowan, chief executive of cannabis consulting firm xchange. McGowan, who presented both days and addressed best practices for investing in cannabis, explained that this due diligence should apply to all areas of a new business. For example, if you’ve identified a particular city or municipality to apply for a cannabis license in, McGowan suggests getting to know the city officials, from the police chief to planning directors, and their stance on weed. If you’re planning to hire an an attorney or consultant to advise on a cannabis venture, run a background check on that person first to ensure they’re even qualified for the job; “trust, but verify,” she said.

There are still many questions that have been left unanswered with the marijuana industry. The election of a Republican President and a conservative minded Attorney General makes that future all the more uncertain.

[grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=BKTzq&webforms_id=14431202″ css=”on” center=”off” center_margin=”200″/]

If you are thinking about getting into the cannabis business or purchasing stocks in the industry, make sure to click here to read more at laweekly.com.

 

 

 

You may be interested

Job Hiring is Picking Up as Employers and Consumers Gain Confidence
Economy
548 views
Economy
548 views

Job Hiring is Picking Up as Employers and Consumers Gain Confidence

Lamont J - March 29, 2021

The recent government stimulus for small and medium-sized businesses, personal stimulus checks, and declining Coronavirus cases, are all great news…

Fed Could Maintain 0% Interest Rate Until 2024
Economy
489 views
Economy
489 views

Fed Could Maintain 0% Interest Rate Until 2024

Adam R - March 26, 2021

The Federal Reserve is holding its target interest rate in a range of 0.00% - 0.25%, even while the economy…

Supply Constraints Could Slow the Home Market
Economy
555 views
Economy
555 views

Supply Constraints Could Slow the Home Market

Becky H - March 25, 2021

Low inventory has been a constant in the home market for more than a year. The supply of existing and…