Cannabis
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Level 1

Cannabis

I am from a state that hasn't legalize marijuana. Is it possible that I can invest in this business? 

4 Replies
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Level 15

Cannabis

That sounds like a question for a lawyer.  We cannot give legal advice on this user forum for taxes.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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Returning Member

Cannabis

If you're talking about buying shares in a publicly-traded company, it doesn't matter what the company does. Buying shares in Tilray, Canopy, or Green Thumb is legally no different to buying shares in Microsoft, Pepsi, or Verizon - no matter where you live. Hope that helps.

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Level 6

Cannabis

The last time I invested in cannabis, I smoked all the profits.

 

Seriously, I know of one ETF, ETFMG Alternative Harvest ETF, Ticker: MJ (of course). There may be others.

 

I would be wary of investing right now unless you can afford to lose your entire investment. The federal government continues to make life difficult for the legal cannabis industry, preventing some businesses from even opening bank accounts or accepting credit cards, so they have to deal in physical cash. Hopefully, this will change with the next administration.

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Level 3

Cannabis

Yes, if you wish to invest through the financial markets, you can purchase exchange traded funds (ETF’s) MJ and/or HMMJ.

 

Exchange Traded Funds function like mutual funds which is a good .conservative way to spread your risk

 

If you do not currently have a brokerage account, you can establish an online account through Charles Schwab, TD Ameritrade, or Etrade.

 

Currently, the cannabis space is depressed or out of favor making it a good time to consider investing although you may want to wait until you see an upturn before you jump in,.

 

You can track the price movements of the two above securities at bigcharts.com .

 

Good luck,

Marketstar

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