You Should Take Stock in Cannabis. Here’s Why and How.
Living the dream. Everyone has a dream for their lives. Many people dream of owning their own business. But, what business should you get into in these times and society? Now, with widespread legalization, marijuana is a budding business. And, most importantly, it’s a profiting business. In both California and Colorado, medical marijuana and recreational marijuana have developed a sizeable demand. In fact, there’s more demand than supply, which makes it not such a bad investment to get into these days. Not only that, shares of stock in the cannabis industry are rising. Finally, with hi-tech marijuana vaporizers becoming the new craze for consuming marijuana, it’s easier than ever to sell. These are excellent reasons to get into the marijuana business. And as an added bonus, it can be lots of fun.
Want to Start a Business? Think Marijuana. Here’s Why.
$1.51 billion dollars. According to the Colorado Department of Revenue, marijuana sales have reached this all-time high. Imagine owning a business in an industry earning that much cash.
Well, Colorado realized the marijuana businesses and their state’s schools are benefiting from it. That’s because most of the taxes collected from cannabis sales are going to improving Colorado public schools. Not a bad idea for other states that are considering legalization. In fact, the $300 million that went to about 27 school districts in the state is strong proof that marijuana is big business—and it’s a business that’s just going to keep on growing. Projected growth for marijuana sales in Colorado is said to be $3.7 billion by the end of 2018, according to research firms.
California, for example, also realized how much the state could profit from marijuana sales. Recreational cannabis was legalized on January 1, 2018. The state is projected to earn $5.1 billion in 2018.
Startup businesses are a great way to begin living your dream and marijuana could be the ticket to what you’ve been looking for in your life. But there’s great risk in investing in any startup business, especially one that’s illegal on a federal level.
Now is the time to invest in the cannabis industry. Stocks are increasingly growing, but there are still some stocks that are affordable. Here’s a look at the top 4 marijuana stocks on the NASDAQ.
Top 2 Cannabis Stocks
1. AbbVie Inc. (ABBV) 93.36
According to NASDAQ, ABBVie Inc. (ABBV) tops off the list with 93.36 points and a market cap of around $145 billion. ABBVie, an established and successful pharmaceutical company from sales from a wide variety medications, sells a cannabis-based drug called Marinol. Marinol alleviates nausea and vomiting for chemotherapy patients and increases appetite for AIDS patients who have no desire to eat. In the past four years, ABBVie has seen an increase in revenue since introducing Marinol to the market. There’s some risk, though, in investing in Marinol’s stock. ABBVie only caters to the United States whereas other pharmaceutical companies offer medications internationally.
- Average Volume: 7,176,521
- Market Cap: $145.119 billion
- P/E Ratio (TTM): 27.72
- EPS (TTM): $3.30
- Dividend and Yield: $3.84 (3.91%)
2. The Scotts Miracle-Gro Co (SMG) 84.77
A lawn and garden care company, Scotts Miracle-Gro has also gotten into the marijuana business. They develop and sell products for marijuana growers as well as pesticides that can be used on cannabis plants. By January 2018, shares reached an all-time high with over $109. However, there’s been a recent pullback due to a sharp decline January 30th where shares dropped to $90 and then to its current level of about $83. With this, now is a great time to invest with shares so low and an expected rise in marijuana product demand.
- Average Volume: 650,168
- Market Cap: $4.741 billion
- P/E Ratio (TTM): 18.92
- EPS (TTM): $4.40
- Dividend and Yield: $2.12 (2.49%)
5 High-Paying Jobs in the Marijuana Industry
- Cannabis Consultant
In nearly any industry, consultants can earn big six figure salaries. It’s no different in the marijuana business. Cannabis consultants are hired to find business locations; obtain appropriate licenses; and give advice on all legal matters, bookkeeping, and tax requirements. This can be especially difficult since marijuana is a cash-only business due to its illegal federal status.
- Dispensary Chief Operating Officer and Chief Financial Officer
Those who are certified public accountants and have the same experience in other types of businesses can enjoy the many benefits of working as a Dispensary Chief Operating Officer and Chief Financial Officer (COO/CFO) in the marijuana industry. As the COO/CFO of a dispensary, you may earn about $125,000 a year, in addition to medical and retirement benefits. Duties as a dispensary COO/CFO include management of cultivation facility operations, management of the business’s accounting department, supervision of financial reporting, supervision of harvesting, processing and distribution, analysis of operations for improvement of efficiency and reduce costs and development and monitoring budgets.
- Cannabis Extraction Technician
Job duties such as skilled laboratory work, extracting THC, CBD and other cannabinoids for the therapeutic properties of medicinal marijuana are the skills and experience necessary for earning $75,000 to $125,000 a year as a Cannabis Extraction Technician. To make the concentrates, these technicians use CO2 and butane, which is a dangerous job especially if it’s being done in a home laboratory. Because of the scientific nature and risk, most technicians have advanced degrees. Demand for the extracts is making this high-paying marijuana job very popular.
- Grow Master/Botanical Specialist
For big money combined with fun, a Grow Master/Botanical Specialist can earn $80,000 to $100,000 per year or more. Responsibilities and duties include: management of warehouses and their grow lights; cloning, transplanting, feeding, trimming, other growing tasks, training supervisors, management of warehouse crew, management of garden scheduling and organization to reduce expenses, prevention and elimination of molds, fungi and pests, record keeping and management of harvests.
- Marijuana Edibles Chef
A Marijuana Edibles Chef has the best job of all—making yummy marijuana food. But, it’s not as easy as it seems. The goal is to make cannabis edibles, such as cookies, brownies, butter, and candy, that contain the right amount of marijuana that’s legal and delicious. That is, there’s no overwhelming marijuana taste. If you can do this, you can earn $40,000 to $50,000 per year. And, if you lead the kitchen, you can earn up to $80,000 a year.
Whichever investment or profession you choose in the marijuana business, keep in mind that United States Attorney General Jeff Sessions has announced an interest in cracking down on states that have legalized recreational cannabis. With this in mind, be cautious about the job in the marijuana industry you are seeking. At this point, there’s risk in pursuing a career in recreational marijuana because federal laws may take affect. Considering this, it might be best to stick to the medicinal marijuana industry.
From startups to established corporation, marijuana is big business. So big that stocks are climbing and jobs are booming. Now, more than ever, you can earn high from the cannabis business.