DENVER – As the cannabis industry continues to grow at an above-average pace, now could be the time to be thinking about investing in cannabis stock. “Cannabis has huge growth prospects and investors now have more options to own a stake in these businesses,” says Kurt Rossner, the CEO of Leafbuyer Technologies, a publicly traded technology company in the cannabis space.
With new companies popping up every day, thanks to the legalization in both the U.S. and Canada, it’s no secret the industry is moving in the right direction. Most Americans now live in states where cannabis of some sort is legal for either medical or recreations use. Currently, there are eight states where it is legal for adults to use marijuana recreationally and more than half of the U.S. states have legalized medical marijuana.
In addition, legal marijuana sales are projected to reach $40 billion by 2021 from $7 billion last year and by 2020, it’s estimated that the cannabis industry will create more than 250,000 jobs, that’s according to the 2017 annual report by New Frontier Data, a cannabis market research firm which tracks long-term potential for the industry.
So should you invest in marijuana stock? If you want to invest in public companies, which are open to anyone, you now have hundreds of options, but don’t expect to find them listed on a major exchange, like NASDAQ, almost all American cannabis companies trade “over-the-counter” (OTC). So before you dive into the cannabis stock market ask yourself a few questions:
- Should you invest in companies that touch the plant or ancillary companies which provide a product or service that does not fall under regulations?
- Should you invest in U.S. companies or are there better opportunities outside the U.S., such as Canada where it will soon be federally legal.
- Are cannabis stocks something you should buy now and hold long term?
- Does the company you’re considering produce revenue? And how strong is its management team?
- Will cannabis companies ever use crypto currency like bitcoin?
Bottom line, there’s a lot of excitement surrounding the cannabis industry and purchasing stock in it. People are buying a lot of cannabis in this country and there’s a lot of products to choose from. “Investors need to do their homework and look at companies which have real business models, that are generating revenue and I think most important, have a solid management team who can hopefully execute the vision and deliver good returns for its shareholders,” says Rossner.
About Leafbuyer Technologies, Inc.:
Leafbuyer.com is one of the most comprehensive online sources for cannabis deals and information. Leafbuyer Technologies works alongside cannabis businesses to showcase their unique products and build a network of loyal patrons. The company’s online network reaches millions of marijuana consumers monthly. Leafbuyer is the official cannabis deals platform of TheCannabist.co (owned by The Denver Post), Voice Media Group and Grasscity. Learn more at www.leafbuyer.com.
Leafbuyer is a public company and is traded on the OTCQB market. Their stock is entitled LBUY
- Ginger Delgado, PR/Marketing Manager | Leafbuyer Technologies, Inc. |Cell: 303-916-8166 | [email protected]