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So the main reason to get into the marijuana industry now is so you can get it at a cheap price. For the next three months, the companies will not report their statistics until the quarter is complete. When this happens, expect an increase in the price of the marijuana stock(s). I can tell you to invest in Canadian ones because of the U.S. dollar to Canadian dollar exchange rate right now; every U.S. dollar you have is worth $1.34 Canadian.
Compare the marijuana industry to technology companies in the 90s... they grew exponentially after everyone caught onto it and it became more popular. It may not be as quite of a big thing, but in terms of stock prices, this is a good comparison. I have actually profited off of marijuana stocks by $4,000. So since it is legal in Canada, expect more growth in the stocks. To find the ones that are best for you search "top Canadian pot stocks." It's important to have diversity, and so, spread it out between multiple stocks. The top stocks I own are Aurora, Aphria, Ianthus, and Canopy Growth Corps.
I expect that when the first revenue report comes out, these will also boost the stock prices substantially. And even though they haven't reported earnings quite yet, the stocks are still performing well. There was a sell-off after legalization, so this is a good time to get them cheap. I feel like this could be some of the lowest they'll be for the next 100 years.
You do not want to log in every day and check; if you do this you will be tempted to sell or buy if you see an increase or drop. But that's your business. Invest with what you're comfortable doing. If you do not have an account you will want to go into a bank and sign up for an investment account, just let them know you want to be able to place trades online. To place a trade online you want to use a search engine. By searching top Canadian pot stocks, then finding one then following the name of the company typing "stock symbol." For example, If I wanted to invest in Canopy Growth Corps. then I would type the Canopy Growth Corps. stock symbol: "WEED." So I would log into my online investing account and type WEED, it will auto fill and I would select it. Placing the amount I want and clicking buy.
The potential for this industry is going to be massive. There is 40 million Canadians and 70 percent of them have admitted to using marijuana at some point in their life. I can tell you from seeing the store lineups that it will be a very worthwhile investment and you will achieve high returns. The business here is huge and lots of people are talking about it. You can't have a day out in public without hearing someone mentioning it.
So with that in mind, I will highly recommend some shares in some companies. Also, the time frame is very important. You want to do it before the companies release their earnings as this will result in a higher price of the company stock. So if you get in early your money will be of a higher return.
A lot of young people turning 19 here are really big consumers. They do not know much about the world and are very curious. These will be the big consumers in the industry. Many of them had already tried marijuana as adolescents and I expect as the younger population reaches this age, there will be more sales. Not to mention those that had already been using it. Now they can get pre-rolled joints, it's hard to compete with that.
So you should really consider getting into this industry while it is in an optimal time. My marijuana will be paid for the next two years if I were to smoke half an ounce a month, which I don't, but it's a nice feeling to know.
So thank you for your time and happy earnings!