Wall Street Embraces Weed

  • As reefer madness continues to sweep the U.S., cannabis shares have spiked as another Wall Street firm has boarded the bandwagon.
  • Piper Jaffray has added marijuana stocks to its brokerage list, resulting in a 13 percent surge in Canopy Growth. The move continues a trend that began last year, when pot became a $10.4 billion industry and cleared the way for a quarter-million new jobs.
  • “While timing of further changes is difficult to predict, the pace of further legalization appears to be accelerating,” says analyst Michael Lavery, who adds he expects the global cannabis market to climb to $500 billion.
  • Do you think putting money in marijuana stock would be a solid investment? Are you on board with the legalization of marijuana?
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