For Pot Investors, Dispensaries Are Indispensable
By John Persinos
The marijuana market is expanding exponentially but compared to its long-term potential, "canna-business" remains in its infancy, akin to the computer industry in the 1980s.
Imagine having been able to invest in Apple (NSDQ: AAPL) during its formative years in the go-go Eighties, when visionary founder and Chief Executive Steven Jobs was just a bearded kid in a garage, rolling up his sleeves and getting started. You'd be very rich.
These days, investors seek "the next Apple" of marijuana. A good place to look? Publicly traded marijuana dispensary chains. They're growing like weeds (pun intended).
Before marijuana legalization started to gain traction in the 1990s, the federal government's anti-marijuana disinformation war had done an effective job of demonizing pot. Officials had convinced most citizens that marijuana was the "devil's weed." If you ever want a good laugh, watch the infamous 1936 movie Reefer Madness, a strident propaganda film that became a cult classic of inadvertent comedy.
And today? Society has pulled a 180-degree turn.
A vast majority of Americans (88%) think marijuana should be legalized to one degree or another, according to the latest Pew survey released in March 2024. In the United States, marijuana remains outlawed at the federal level, but increasing numbers of states are legalizing pot for medicinal as well as recreational use.
Medical marijuana has been legal in Canada since 2001. In October 2018, the country legalized on the federal level the possession and use of recreational marijuana. The move created an industry in Canada with CA$4.6 billion in annual sales in 2022.
The most striking cultural development regarding marijuana is the fast emergence of retail dispensaries. Depending on the laws where they live, millions of consumers currently have the ability to walk up to a retail outlet and legally buy marijuana, as if they were buying aspirin or a pack of gum.
Cannabis dispensaries are local government regulated physical locations, typically inside a retail storefront, in which a person can legally buy marijuana and marijuana-related products for medical or recreational use.
Among the most desirable marijuana investments in 2024 and beyond are marijuana dispensary chains that sell a broad variety of marijuana products, preferably in North America. The U.S. and Canada combined form the largest regional marijuana market in the world.
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