Our last article covered the importance of diversifying your portfolio by leveraging alternative investments in industries such as the CRE or Commercial Real Estate Investments, Banking, Aviation, Legal Cannabis and Small Business Startups.
Due to its formidable performance over the past few years, and even more impressively during the outbreak of COVID, today we will be taking a more in-depth look into the Legal Cannabis industry.
In fact, the Cannabis Industry has a lot more going on right now that “just” it’s market growth and performance alone.
Never mind… It’s Not So Bad Afterall!
Or at least that’s how our Top House Leaders feel, according to a recently published Forbes List article. The article states that the proposed bill – The Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act – a bill to decriminalize marijuana on a federal level, will be voted on by congress during the week of September 21st, 2020.
Not only would it be decriminalized going forward, but the bill also states that individuals who have marijuana convictions on their records prior to the passing of the bill will have their records expunged.
War and poverty-stricken communities will also benefit as a federal five percent sales tax will be implemented on all marijuana sales in which the proceeds will be reinvested into those communities.
We understand that this is in no way the same as if marijuana were to be legalized and decriminalized nationwide on a state level, but it is undoubtedly a step that will draw more attraction to the industry itself.
And it’s not like the cannabis industry needs The MORE Act to pass in order to be successful – it’s been doing just great without, especially in 2020.
Not Even A Pandemic Can Stop It…
It’s true, U.S. medicinal and adult-use cannabis sales are estimated to reach $15 billion in 2020. That is a near 40% increase compared to 2019’s performance.
So, how did COVID effect the cannabis job market? Well, while millions of other businesses were closing their doors, near 300,000 full-time jobs were created in the “green” industry, up 50% from 2019.
Currently, out of the 50 states, only 11 are legal or allow adult-use. That means that 11 states are responsible for the 50% increase in new employment numbers or that each state, on average, added 27,272 jobs in a matter of months.
As time passes and more states begin to adopt these values and perspectives towards cannabis, it would only make sense to see the number of jobs added continually (maybe drastically) increase.
It’s not just THC that is drawing in the crowd. The emergence and gradual acceptance of CBD, CBG, and CBN are expected to add fuel to the upside. From vegan foods, supplements, treats, oils, tinctures, and even pet foods – the more innovation the industry experiences, the more jobs will need to be filled.
We are also starting to see companies establish themselves as leaders and trusted product suppliers in the industry. As time progresses, it seems that we are moving further and further away from the wild, wild west startup days where the “company of the future” would quickly perish.
“Wrapping” It Up
With it’s upcoming Senate vote, it’s aggressive and unwavering performance, and overall stable adoption – we felt that the Cannabis sector deserved the spotlight today.
While no one is certain what the future will bring, especially with the recent events that have and are unraveling, the cannabis industry seems to be “maturing” and proving that it is an alternative investment option to be taken seriously.
However, in a market that displays so many opportunities to gain enticing financial rewards such as this one, it can be overwhelming to say the least.
When we state that we have positioned ourselves as trusted advisors in alternative investments, we are referring to the cannabis industry as well as a multitude of others.
At eVest, we will continue to explore and assess these industries so that we may be able to provide the most relevant and vetted opportunities to our followers.
To start, we hate fees (does anyone like them?), so we don’t charge any! We unceasingly update our offerings and also offer comprehensive underwriting.
Even if you don’t feel like you are quite yet ready to make that initial investment, visiting Evestmarketplace.com is a significant first step in the process.
For those looking for additional insight or help, please feel free to reach out as our team is ready and set on helping you achieve your financial freedom goals through alternative investing.