Buy Marijuana Stocks Now? You'd Have to Be Stoned.
Marijuana stocks have become the “next big thing.” Thirty-three states have legalized medical marijuana, including 10 (and the District of Columbia) that have greenlighted it for recreational use. In Maryland, where I live, medical marijuana dispensaries are opening apace, and several clients have asked me to recommend a marijuana stock.
My advice: Stay away. It’s almost certainly less risky to inhale than to invest.
Marijuana exhibits the classic hallmarks of an investment bubble. As with Internet stocks in the late 1990s and Bitcoin and other cryptocurrencies a year or so ago, marijuana stocks (and related investments) are almost certain to crash and burn.