I was 17 the first time I bought cannabis.
A girl in my home economics class sold it to me.
Her name was Theresa. She had big hair, a big attitude, and a very big operation that I suspect made her a lot of money.
We stayed in touch for many years after high school, and actually became quite good friends. And while she no longer capitalizes on an underground cannabis operation in the suburbs of Northern Maryland, she still enjoys cannabis.
Working as a yoga instructor in Southern California, Theresa is actually quite successful. She’s worked with a handful of celebrities in Hollywood with most of her business being private sessions. She also invests in cannabis these days, both for economic and social reasons.
Like me, Theresa understands that by investing in the cannabis space, we are investing in a mechanism that can help dismantle the war on drugs. Sure, we look forward to the profits, too. Theresa was actually an early investor in OrganiGram (TSX-V: OGI). She picked up shares after I recommended the stock back in 2015, when it was trading at around $0.40.
Today, shares of OrganiGram are going for about $1.70.
Of course, Theresa doesn’t only invest in cannabis stocks. She also invests in the industry organizations that work tirelessly to ensure that we have the opportunity to profit from this market.
I just wish more folks were like her.
Making it Possible
Yesterday afternoon, I read the following headline: Many Marijuana Businesses Unsure If They’ll Donate to 2016 Legalization Efforts.
I was floored.
Without legalization, these companies don’t exist. It’s that simple.
For a cannabis business to not donate invest in legalization efforts is absurd. Especially when you consider how much money prohibitionists continue to raise to stop legalization efforts.
Hell, just a few weeks ago we learned that the Carol Jenkins Barnett Family Trust donated $800,000 to a lobbying group trying to stop legalization efforts in Florida.
Then there’s Mel Sembler. The very successful real estate mogul who’s been very vocal about raising $10 million to fight Florida’s legalization efforts. Ironically, Sembler used to run a drug treatment center that was eventually closed down after it was found that his center, which was called Straight, Inc., had been abusing a lot of kids.
Rest assured, dear reader, there are plenty of folks who want nothing more than to keep prohibition alive and well. So those who invest, make a living, or seek to make a living in the cannabis space would be wise to support the organizations that are making legalization possible.
Time is Running Out!
According to a recent online poll conducted by the good folks over at Marijuana Business Daily, about 20 percent of executives in the cannabis space said their companies don’t plan to donate to legalization efforts this year.
This is nothing shy of irresponsible. By not supporting legalization efforts these companies are putting their shareholders at risk.
It should also be noted that 17% of executives who took the poll said they hadn’t yet made donations, but were planning to in the future. What they’re waiting for, I have no idea.
We’re three months away from Election Day. This is no time to dick around.
If you’re a legal cannabis investor, I would encourage you to throw your support behind legalization efforts, too. After all, if legalization efforts hit a roadblock, it will affect your ability to profit from the cannabis space.
And even if you’re not an investor, but believe sick folks should be allowed access to medication that can help them, I also encourage you to support legalization efforts. Because let’s face it, this isn’t really a political issue, it’s a human rights issue. And that’s why we must all come together to support legalization efforts.
Here are a few of the groups that are fighting the good fight: