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Millennials are investing in cannabis stocks.
February 11, 2019

Millennials, Reversing Trend of Ruining Everything, Pour Money Into Cannabis Funds

Millennials, long blamed for ruining everything from Christmas to avocados to democracy, are finally giving back to the society they’ve taken so much from. No, the massive demographic group hasn’t paid reparations for “ruining” your weird aunt’s nativity scene last December, instead millennials are investing in cannabis stocks. This according to data from popular –amongst, who else, millennials– investment app, Robinhood.

Parking our tongue-in-cheek tone about millennials, this demographic has been setting trends and, pardon the term, “disrupting” industries for a number of years. Millennials utilize new technologies, and buy-in more rapidly and aggressively on things they enjoy than previous generations. This shift in investor tastes, even if from a younger, less affluent group, should surely be a wake-up call to crusty, old financial houses, we’re looking at you, FDIC-insured banking institutions! And with millennials “totes gettin’ investment, brah”, Robinhood’s seen a strong uptick in investors of cannabis companies, particularly since Canada went fully legal last October. No surprises then as we explain that Canadian cannabis groups Aurora, Cronos and Aphria lead the way on the app. According to Robinhood, Aurora is the single most popular stock to invest in, outpacing the likes of Apple and other Wall Street giants. Cronos is no surprise either, what with the massive investment it received in December of 2018 from Altria, the international tobacco conglomerate. Aphria, too, is a no-brainer as a leader in attracting investors as the company’s agreement with Southern Glazer in early 2018 presciently suggested the mega-investments that Canopy Growth, Cronos and others saw through the year.

But it isn’t just individual cannabis stocks that millennials and other investors are pumping money into. Robinhood’s cannabis-driven ETF, “MJ” [Clever title, guys. Wow. –Ed.] is also seeing big numbers. The MJ ETF has an approximate value of $1 billion-plus right now, so, for those of you looking to do something with your smaller-than-anticipated tax return, investing in some cannabis companies via Robinhood or, y’know, through MMLG, wouldn’t be a bad idea.

The only real caveat here? Well, as recent crackdowns on CBD suggest, there’s still a lot of complexity and uncertainty to the unfolding plant-touching industry and investors should be ever mindful of that fact. MMLG’s own blogger was recently drawn into a conversation about investment opportunities and we simply explained that investing in the industry is a smart and strong move in the long run, but that one shouldn’t expect to be a millionaire over night.

We maintain that this pragmatic advice holds true for all investments. Still, even with the uncertainty surrounding the industry, Canada’s full legalization is creating ample jobs and investment opportunities, to say nothing of the encouraging news coming out of states such as Ohio, Missouri and Tennessee.