It’s possible to take advantage of the cannabis market without targeting direct stocks
There are some companies out there operating on the fringes of the cannabis industry that never touch the cultivation, processing or distribution of marijuana, but who are, nevertheless, profiting greatly from the industry. For investors who are interested in getting in on some fast-growth companies that come close, but do not touch the marijuana plant in any way, there are still several options available for you to take a look at.
You might have to do some research, but if that sort of thing interests you, take a look at SSPK, Silver Spike Acquisition, which recently has teamed up with WM Holding Company with a potential for rapid growth sooner rather than later.
WM Holding Company has been around since 2008, and presents itself as being “the leading technology and software infrastructure provider to the cannabis industry.” The company is basically a technology platform that operates the now hugely successful California-based online cannabis marketplace Weedmaps.
WM Business, a software-as-a-service (SaaS) provider to cannabis retailers and brands, is an offshoot of the WM Holding Company that, along with Weedmaps, could “prosper if the broader cannabis industry expands,” as it is almost certain to do. Actually, according to WM Holding, just the US market is expected to at least double over the next five years. All this from companies that bill themselves as being “non-plant touching.”
Targeting these companies as an investment gives investors the ability to capitalize on the growth of cannabis as an industry without having to directly target cannabis stocks. It can be a great way to add cannabis-related companies to a portfolio, while, where necessary, maintaining a safe distance.