To watch the full episode, head on over to our sister channel at Hypergrowth Investing — https://www.youtube.com/watch?v=kYGQxJ_Vyf4&t=1s
Cannabis has been trending in the news recently due to a 220-204 vote last week where the U.S. House of Representatives passed a bill to legalize it on a federal level. Does this mean it’s time to get into cannabis stocks?
Well, if I make one thing clear, it’s that I am NOT a fan of cannabis stocks. That wasn’t always the case, though, as once upon a time, the space seemed to fit into my wheelhouse — new tech, new industry, hypergrowth potential, emerging companies. In fact, I previously believed that the “Coca-Cola of Weed” would emerge from today’s players in cannabis.
But a critical element in my investment thesis is that companies need to make profits at scale. With the issue of product commoditization in the cannabis industry, I’ve turned bearish on marijuana.
So where am I bullish these days? Psychedelic stocks.
Yep, I’m talking about MDMA, ‘shrooms, etc., as this is an area where I see great potential. For one, there’s no commoditization, and there are massive competitive moats. But before you clutch your pearls, I point out that the world’s top research institutions have begun backing psychedelics’ therapeutic potential.
These aren’t your grandparents’ magic mushrooms! Listen to find out why the psychedelic market will do what I once thought cannabis could — and which psychedelic stock you should buy today.