January 8, 2021 12:04 pm ETEstimated Read Time: 5 Minutes
If you find yourself to be one of those individuals that like to make investments for the future, you may have thought about investing in cannabis stocks. This investment is considered risky by many analysts. This is because cannabis is still currently a federally illegal substance. Under federal law, cannabis is a scheduled one controlled substance with no medical value and a high addiction rate in the United States of America. Even though many states have gone against federal law and legalized cannabis, investing in this industry is still considered risky.
Investing in Cannabis Has Always Been Hit or Miss
Many people have a hard time investing hard-earned money into an industry that can’t even legally work with most banks. This doesn’t mean that cannabis stocks haven’t been a hot ticket for investors looking for a big payday. Some of those who invested in the cannabis industry have found success while others found themselves not so lucky. Years ago, the cannabis startup MassRoots seemed like it would be a no-brainer to add to any portfolio if you were considering purchasing stock in the cannabis industry. However, that quickly changed as the company ended up tanking out.
A lot of people turned to investing in companies like Canopy Growth and Aphria when it came to surefire investments for their stock portfolio. Some of these investments have panned out to be successful, and others not so much. When it comes to making investments in cannabis stocks, there’s not much time left if you’re looking to get in on the big payday. Investors who took the risk are the ones that will reap the biggest reward. Once the investment of purchasing a cannabis stock becomes a safe action, the potential earnings from the stocks will decrease substantially. That doesn’t mean that you can’t get in on a great investment when it comes to plant-based medicine.
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What Other Plant Medicine Can You Invest in?
If you feel like you’ve missed the boat on investing with cannabis, a relatively new stock area that may be of interest to you would be investing in medicinal psychedelics. Medicinal psychedelics have technically been around for quite a while. More recently, the news of potentially treating depression and anxiety using psilocybin mushrooms has made its way into the news. The state of Oregon voted to legalize medicinal psilocybin, becoming the first in the nation to pass such a law. Residents in Oregon can be recommended medicinal mushrooms as a patient, much like the way a physician can recommend medical cannabis to a patient. Additionally, magic mushrooms are quickly becoming increasingly more acceptable in the United States. They have been decriminalized in Denver, Colorado, legalized in the state of Oregon, and they are also decriminalized in our nation’s capital Washington D.C. This is going to become a growing industry, much like cannabis. In my opinion, you will start to see psilocybin legalization laws pop up in other states across the nation over the next few years. Plant-based medicine can be remarkably effective. In a time when medications and prescriptions come with so many dangerous and deadly side effects, many people are looking to get back to their roots.
Top Stocks in Cannabis and Psychedelic Focused Therapies
Whether it be recreational or medicinal, investments in the industries of cannabis and psilocybin mushrooms are going to continue to cultivate success with investors. Canopy Growth Corp, Tilray, and Cronos Group Inc. were some of the top cannabis stocks of 2020. Some of the best value in cannabis stocks were considered to be Organigram Holdings Inc., Harvest Health and Recreation Inc., and Amyris Inc. Among some of the fastest-growing cannabis stocks, you’ll find 4front Ventures Corp., Jushi Holdings Inc., and Cresco Labs Inc.
When it comes to the magical world of psilocybin mushrooms and psychedelic-based medicines, there are two stocks making waves with investors that many are hopping on to hoping to surf out into financial security. Champion Brands is a Vancouver based company accelerating rapidly in the field of psychedelic medicine. They announced they would make the acquisition of AltMed Capital Corp in April of this year. Champion Brands is another company that has plans to open clinics for psychedelic medicine such as MDMA, ketamine, and psilocybin throughout North America. Mind Medicine is considered one of the biggest biotechs in the field of therapeutic psychedelics. Mind Medicine saw great success with its Compass Pathways IPO and is currently in the process of enlisting with the U.S. stock exchange. This gives great potential to investors staying up on current trends. Mind Medicine has current studies establishing the effectiveness of LSD in helping neurological issues. The company is not a basement startup. It already has an estimated 23.7 million in total assets. Financial stability like this will definitely help pave the path for future generational success.
Now you are armed with some knowledge about cannabis as well as psychedelic stocks. You can use this knowledge as a great conversation piece or in your arsenal for making investments in your future. A small investment in cannabis and psychedelic stocks today could bring the blazing success that might leave you tripping over the profit you make.
Ashley Priest is a patient, mother, entrepreneur, and activist that fights to end prohibition globally for a better future for all. Ashley has a passion for sharing education pertaining to the goddess plant known as cannabis. She believes that a single seed can tip the scales and that together through education we can end the stigma that is preventing cannabis from flowering to its full potential globally.
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