With the legal cannabis industry heating up, investors should turn to these sources.
With the cannabis industry expected to be worth $50 billion by 2026, many of you may have decided to dive into investing in the budding business. Whether it be by buying a marijuana-related stock or starting your own cannabis-related business, there are tons of opportunities to take advantage of. Even though it is still federally illegal in the U.S., there are plenty of states that medicinal and recreational cannabis have been legalized in. In fact, 29 states and Washington, D.C. currently have laws that broadly legalize marijuana in some form.
If you have made the decision to get involved with the industry, you may be wondering about the best places to get your news and relevant information. If you go to some of the better-known traditional sources for financial and business news, such as TheStreet or The Wall Street Journal, it may be hard to find anything about cannabis among the clutter of news about every other industry and sector. So, to help those of you looking for the top sources of cannabis business and investment news, we have gathered our top three places for you to check every morning at the open and every afternoon at the close for all the news you need on pot stocks and the marijuana industry overall.
The Daily Marijuana Observer is the leading resource for marijuana stocks and business news. It covers the industry from an investor's standpoint every day, from open to close and beyond. It covers more than just the U.S. and Canadian pot stocks, also including Australia, Tel Aviv and more. Founded in 2016, it has quickly become a formidable player in the space. Its content can be found on more sources than just its website. The Daily Marijuana Observer has a weekly column on Investopedia, a content syndication deal with Marijuana.com and a large following on Seeking Alpha. This is the site you'll want to read every day if you invest in any stocks that pertain to the cannabis industry.
When looking at the industry, it's important to be able to see it from every angle. The Fresh Toast is a fantastic resource for cannabis-related lifestyle content, reaching millions of people every month.
Next time you want to get an idea of how much marijuana is reaching the mainstream, click on over to the The Fresh Toast and have a read. It will give you a good understanding of the industry from the viewpoint of the average consumer. The Fresh Toast is doing a stellar job of normalizing an industry that has been viewed as fringe for quite some time. As the legal marijuana industry grows, you will see more and more competitors pop up in this space. For now, The Fresh Toast is the go-to place for your cannabis-related lifestyle and entertainment content. It often writes about the industry from a refreshing perspective.
If you are looking to better understand the actual plant and get involved in real-time discussions with consumers, Marijuana.com is the place you want to visit. Its forum is huge and contains discussions on a wide variety of topics, from whether or not people are stoned currently to the likelihood of legalization on a state-by-state basis. Weedmaps recently acquired the site for $4.2 million, giving it a huge boost and platform. Although Marijuana.com seems to make money off of banner ads, Weedmaps reached revenues of over $30 million years ago, through dispensaries paying for listings on its platform alone. This is a huge sign of growth in the industry.
Not only does Marijuana.com have a massive forum discussing cannabis and the industry, but it produces some fantastic political content related to the industry. To have any idea of the best way to invest, one must have a solid understanding of laws and regulations, both on the local and federal levels.
If you want to understand the business of cannabis, these three resources should give you a holistic understanding of this exciting new industry. Whether you are interested in investing, becoming a business owner or just being better informed, these sites have you covered.