Like writers, investors are often told to go with what they know. With one third of Americans now living in states that have OK'd medical marijuana, and Washington and Colorado voters approving of its recreational use, The Wall Street Journal's MarketWatch takes a look at possible investment opportunities in cannabis.
The post claims the medical marijuana industry is worth about $1.7 billion nationwide, and also uses the services and products of other industries, such as insurance companies, lawyers and agricultural equipment.
Derek Peterson, CEO of GrowOp Technology, said, "Call it the 'green rush.' The industry is expanding, and there are all kinds of investment opportunities."
Possible over the counter stocks weed investors might be interested are Medbox, which dispenses medical pot through vending machines. A patient's identity is confirmed via a fingerprint reader. The company has 140 machines installed, with another 40 coming online the next quarter.
Other companies, like Steep Hill, are betting that the federal landscape for marijuana will change dramatically in the next 10 years. The company is a quality control lab for growers, and tests the pot for mold, bacteria or pesticides contamination. Steep Hill is betting on federal acceptance of medical pot and recreational use in the next decade.