Source:Benzinga / By Laura Brodbeck / Jan 23 2015
Marijuana legalization has been spreading quickly across the United States the last couple years, creating a big investment opportunity for those who are willing to bet the trend will continue. For the first time in years, an entirely new market has opened up and many say now is the time to jump on board to reap the rewards.
Big Name Buys
While most growers and retailers are not yet big enough to be traded on major exchanges, investors who want to dip their toe in the marijuana pool could begin with a large company that has several other interests besides just pot.
GW Pharmaceuticals (NASDAQ: GWPH) is perhaps the most popular go-to stock for investors looking to include pot in their portfolios. The company uses the chemical compounds found in marijuana to develop new treatment plans for unmet medical needs.
Another similar company is Insys Therapeutics Inc (NASDAQ: INSY). The company has already put several products out on the market and is well known for Marinol, a drug that helps reduce vomiting in chemotherapy patients.
Related Link: 15 Marijuana Stocks To Watch In 2015
For investors who are interested in taking a bigger plunge into the marijuana market, growers are a place to look at. With several states having already begun the process of legalizing the recreational sale of marijuana, growers have been expanding rapidly in preparation for a flood of demand.
TerraTech Corp is both a retailer and a grower and has some big plans for the upcoming year. The company has collaborated with vaporizer firm, Vaporin, to create vapor pens designed for pot and also recently invested in creating a research facility that will service the medical marijuana market.
Abattis Bioceuticals Corp is a Canadian company that provides growers with the equipment needed to efficiently grow marijuana. Last year, Abattis acquired new fertilizer formulas and a new testing lab after raising $3 million from investors.
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