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.