The decades-old Zacks Investment Research is recommending four “cannabis-related” companies – including some household names – for stock investors wanting to cash in on the so-called marijuana “green rush.”
The stock research firm, founded in 1977, projects that Tuesday’s election will yield yes votes in several states where marijuana legalization initiatives are on the ballot.
“This is reminiscent of 1933, when drinking cold beer after work was made legal,” according to an “analyst blog” on the Zacks website. “So, if you haven’t cashed in then, it’s time to do now.”
The four companies that Zack’s recommends as benefiting from legalization are:
- GW Pharmaceuticials: The British biopharmaceutical company is developing a CBD-based anti-seizure medicine that could hit the U.S. market by 2018.
- Scotts Miracle-Gro: Scotts’ stock surged in August after it was announced the company had acquired Botanicare, an Arizona-based provider of marijuana nutrient and hydroponics products for $40 million.
- Pepsico: The food and beverage company offers a wide range of snack foods, and its stock has gained 6.7% year-to-date.
- Philip Morris International: The tobacco company invested $20 million in Israeli company Syqe, which patented a cannabis inhaler.
Amid growing criticism, NCIA chief Aaron Smith admits missteps and hopes to move the trade group in a new direction.
Amendment X to the Constitution states “The powers not delegated to the United States by the Constitution nor prohibited by it to the states are reserved to the states respectively, or to the people.” Attorney General Sessions has stated he wants to prohibit marijuana. The governor of Colorado states he will go to court for the First Amendment guarantee of states’ rights.