In Denver, the answer might be yes, and you better believe everyone's watching.
And they should. If marijuana legalization continues to push forward, whether recreational or medicinal purposes, that's a whole new ballgame for farmers already in the business, and those looking to get in on the ground floor. An article published today by MainStreet.com reports that more than 1,000 people came out to ""CannaSearch", the first-ever job fair for the legal marijuana industry." According to the article, people came in out of state. There were so many people, the article reports those who came late were turned away.
That's a lot of people looking for jobs or dreaming big.
And do those dreams possibly involve a day where you're driving the countryside and instead of seeing tobacco leaves in the distance (and you frowning, shouting some health-conscience line) you would see rows upon rows of marijuana plants growing freely? Add the small sign that I'm sure will be posted citing "For Medicinal Purposes Only". Now an electric fence, followed with a marijuana dispensary a mile down the road. Take that view and add a parking lot where there are a few hundred cars, owned by people working the industry.
Is this the reality we're slowly entering? One that replaces the cigarette era and ushers in a new crop that has been preached about in the media by many including CNN's Dr. Sanjay Gupta, who "doubled down" his view on it? Conspiracy theorists will probably speculate that was because of what could happen to the industry. So just in case, everyone is needed on board, especially the media (if there's ad revenue involved).
Everyone wants in, and everyone has their angle. But for those who will not be sick, who manage to get their hands on a medical marijuana card, the abuse will be ridiculous. Let's face it: This country can barely manage food stamp abuse, amongst other services that people have managed to find loopholes. Medical marijuana will be no different. In the end, the bottom dollar will win out, and the healthcare systems, farmers of the drug, and the user will be forever connected, and up in smoke together.
As far as the marijuana business as a whole, it's only a matter of who will evolve with the legislation. Those that can will be bought out, or fade into existence. Right now these are short sells at the most, far beyond the mindset of investors hoping to hang in there through the tough times. Again, only time will tell.
As a side note, I have no investments in the marijuana industry.