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Millennials – Should They Continue To Invest In Cannabis Stocks?

Millennials are the generation that is most comfortable with the marijuana, both in terms of use and in the stock market as well. This was probably one big reason why the Canadian cannabis market peaked after erupting in the late summer of 2017.

A report from TD Ameritrade claims that investment accounts from people below the age of 35 increased 72% in 2017. So, the timing of both – a rally in the cannabis market and surge in millennials interest in the stock market – almost coincides. What makes TD Ameritrade’s claim even more interesting is that millennials have traditionally stayed away from the stock market, thanks to the crashes in the recent past.

So, it’s clear that millennials have found a liking for the stock market because of the cannabis and another nascent industry – cryptocurrency. However, with Canadian cannabis market already peaking, a big question that arises now is – Should Millennials continue to invest in cannabis stocks, or look for other investment avenues?

Well, the answer to this is ‘yes’ they should continue to trust the cannabis stocks, and there are several reasons to support it. Thirty U.S. states have given their approval to the use of cannabis in one form or the other. Further, the biggest boost to the industry is expected to come this summer, when Canada would become the first country to legalize cannabis for recreational use.

In addition, the sentiments about cannabis are slowly changing. Most of the US states have legalized some form of medical cannabis use, while in Canada; it has been legal for about twenty years now.

On the other hand, recreational marijuana has been approved by only a few U.S. states, but the general public has positive sentiments toward it. According to a Quinnipiac University poll, 58% are in favor of legalizing marijuana, and about 70% are against the federal crackdown on pot,

Another factor that could push cannabis stocks (specifically the ones based on industrial hemp) further up is a recent bill introduced by Senate Majority Leader Mitch McConnell (R-Kentucky) to legalize industrial hemp on a federal level. Marijuana and industrial hemp are almost the same plants, but the latter is legal owing to its inherent characteristics.

Well, the answer to this is ‘yes’ they should continue to trust the cannabis stocks, and there are several reasons to support it. Thirty U.S. states have given their approval to the use of cannabis in one form or the other. Further, the biggest boost to the industry is expected to come this summer, when Canada would become the first country to legalize cannabis for recreational use.

In addition, the sentiments about cannabis are slowly changing. Most of the US states have legalized some form of medical cannabis use, while in Canada; it has been legal for about twenty years now.

On the other hand, recreational marijuana has been approved by only a few U.S. states, but the general public has positive sentiments toward it. According to a Quinnipiac University poll, 58% are in favor of legalizing marijuana, and about 70% are against the federal crackdown on pot,

Another factor that could push cannabis stocks (specifically the ones based on industrial hemp) further up is a recent bill introduced by Senate Majority Leader Mitch McConnell (R-Kentucky) to legalize industrial hemp on a federal level. Marijuana and industrial hemp are almost the same plants, but the latter is legal owing to its inherent characteristics.

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Money News National captures conversations around what Millennials are investing and wanting to invest in while highlighting trending stories around companies popular among millennials.

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