The “Mad Money” host sees a bright future for marijuana
Jim Cramer is known for his energy and sometimes crazy antics. The host of CNBC’s Mad Money is also known for having his finger on the pulse of finances and has often made predictions about companies or industries that have come true. Cramer has now addressed the budding marijuana industry and expects it to give a huge boost to global economies.
As Canada was getting ready to see the launch of legalized marijuana, Cramer decided to address the topic on his program. He called Canada’s move a “watershed” moment for marijuana and added, “I think that legal marijuana might be the most disruptive force since Amazon.”
Cramer further indicated, “That’s right, when you look at every industry where pot could potentially compete, there might be as much as a half a trillion dollars in sales that are going to be disrupted, everything from carbonated beverages, beer, sports drinks, tea, coffee, tobacco, [and] snacks [to] all sorts of medications.”
The outgoing financial analyst and host bases his views on real-world data. He has held conversations with multiple business owners in the marijuana industry, all of whom have supported the idea that cannabis is going to be a huge disruptor to a number of industries.
Cramer offered further insight, asserting, “I believe we’ll soon see studies showing that it’s a better, safer way to fall asleep than most sleeping pills. I bet we’ll see studies demonstrating that it does more to reduce swelling than pretty much anything else on the market. It might be an alternative to tobacco. It certainly is an alternative to an epidemic of opioids.”
On all counts, Cramer is almost definitely correct. There is no doubt that marijuana has the potential to be seen in virtually every market in every corner of the globe. The revolution has already begun with only a small handful of countries entering the space. Once this spreads around the world, it will most definitely be a huge driving force behind further innovation.