“US lawmakers look to legalize pot in ‘historic’ marijuana reform hearing”
That was the headline from CNBC Wednesday evening, after congressional committee members convened for the first-ever hearing on ending marijuana prohibition in the U.S.
In case you didn’t get that, let me say it one more time: the first-ever hearing on ending marijuana prohibition in the U.S.
Fox Business echoed CNBC’s reporting, saying, “Marijuana legalization gets bipartisan support in ‘historic’ hearing.”
The development deserves repeating because of how incredibly monumental it is for the marijuana industry and its investors. For years, the U.S. has been building up to this point, state by state, and now we’re finally approaching the finish line (only a matter of time before we cross it).
No doubt marijuana has been one of the hottest investment stories of the last year or two. Aside from the U.S.-China trade war, it’s easily been the single most talked about market story for months now.
I know this not just because of my discussions with my colleagues and investors but because of sheer traffic numbers coming into our website. Not to dive too deep into the inner workings of our list build, but most of our new readers this year have found us by searching for profitable marijuana investments.
You see, part of the way we build our community here at Wealth Daily is by targeting user interest. You search for “marijuana stocks” in Google, and we hit you with an ad, offering you a free introductory report on pot stocks and access to our newsletter.
The goal, of course, is to get like-minded investors in one place so we can share with you the best investment opportunities on the market. Of course, we talk about a wide range of topics, but I can tell you firsthand that marijuana has been consistently our hottest topic for some time now.
Let me be the first to admit, by the way, that I wasn’t the one driving this train. Yes, in 2018 I predicted federal legalization by 2020, and yes, I commissioned some of those introductory marijuana reports to our staff, but I was never personally invested in the marijuana hype, at least not like some of my colleagues have been.
Frankly, I’ve largely avoided marijuana stocks because it’s not my area of expertise. I focus on emerging trends in technology and biotech, and while marijuana is arguably pharma-related, much of my focus this year has been elsewhere.
Part of what’s so great about Wealth Daily is our diversity of talent and expertise. We have folks from all over the industry contribute to our pages: newsletter vets, angel investors, and disillusioned Wall Street traders. We never pigeonholed ourselves to a specific industry or trend because we know markets are dynamic and require a breadth of coverage.
Since our inception, this has allowed us to stay well ahead of virtually every major economic and investing trend I can think of. We were turning readers on to Bitcoin in 2013, 3D printing in 2011, and Tesla (NASDAQ: TSLA) in 2010. I could go on for pages listing our early calls, but you get the idea.
As far as it pertains to the marijuana market, we’ve been banging the drum since 2009. We recommended GW Pharmaceuticals (OTC: GWPRF) way back when it was still at $1.50 a share (now $14). Point is, we’ve had our finger on the pulse of this trend for some time now, and our research has proven immensely profitable for our readers.
Stay on top of the hottest investment ideas before they hit Wall Street. Sign up for the Wealth Daily newsletter below. You’ll also get our free report, Marijuana Outlook: Best Stocks to Buy.
That said, there’s a real possibility investors have only seen the tip of the iceberg as far as marijuana stocks go. With bipartisan meetings now underway, federal legalization is looking like a very real possibility, and I promise you the market is going to go ABSOLUTELY BANANAS if that happens.
This is, no hyperbole needed, your chance at a once-in-a-lifetime investment opportunity. You can either get in before the bill is introduced and passed, or can you wait on the sidelines and watch what happens.
To be clear, betting on legalization obviously comes with risk. Counting on Washington to get anything done is always a gamble, but the consensus is that this is a fairly bipartisan issue.
As Rep. Tom McClintock (R-CA) put it earlier this week: “[Marijuana decriminalization]” may be one of the very few issues upon which bipartisan agreement can still be reached in this session.”
There’s going to be some inevitable pushback from Democrats on the topic of race, but ultimately it looks like both parties want to get this thing done.
Like I said, pot stocks aren’t my area of expertise, which is why I refer to others on the topic.
My good friend and colleague Alex Koyfman has a $0.30 marijuana stock he’s currently raving about. He told me on Wednesday, “It’s the McDonald’s of weed.”
Alex is referencing a quote from former McDonald’s CFO Harry Sonneborn, who once famously said: “We are not basically in the food business, we are in the real estate business. The only reason we sell 15 cent hamburgers is because they are the greatest producer of revenue from which our tenants can pay us rent.”
Essentially, the company Alex is touting buys up valuable real estate and facilities, which it then leases to marijuana producers. It sounds like a similar business model to Innovative Industrial Properties Inc. (NYSE: IIPR), which has gone on a 623% tear since 2017, but at an infinitely more attractive entry price.
Until next time, Jason Stutman
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