“Marijuana might still be technically illegal at the Federal level, but Netflix (NASDAQ: NFLX) isn’t letting that stop it from participating in weed culture. Last month the company released a selection of branded bud to promote a slate of its TV offerings. All strains bore the company’s logo on the label, and each was recommended for consumption while watching a particular Netflix show.”
An interesting article published by madison.com has shed some light on what Netflix’s recent foray into the world of legal cannabis could mean.
Only several years ago, few executives would have even considered associating with any controlled substance. Now, a major controlled substance is not only tolerated by the general public, it’s essentially accepted. There was little to no outrage over the Netflix bud; the PR stunt was essentially met with a “so what” shrug by the world.
It’s true. With every day that passes it seems like marijuana is getting more accepted throughout the United States. Companies that may not be directly involved in the production of cannabis are suddenly finding an opportunity to use it as a marketing tool.
“Netflix doesn’t and won’t sell marijuana, as do direct-supply Canadian medical pot companies Canopy Growth (NASDAQOTH: TWMJF) and Aphira. Nor does it develop medical treatments using THC and cannaboids, like GW Pharmaceuticals (NASDAQ: GWPH), or provide equipment favored by pot growers, a la Scotts Miracle-Gro (NYSE: SMG). It’s using the green only as a marketing device.”
While it may only be a marketing device, keep an eye out for the companies that were just mentioned. With more states eyeing legalisation, not to mention Canada’s legalisation effort which should come to fruition next summer, investors could win big on weed. Companies like Canopy Growth have been growing their cannabis empires for years and could control the market when legalisation happens.
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