For mom-and-pop investors, the options may be riskier, given that retail investors can access the marijuana market mostly through volatile Canadian stocks such as Tilray, a Canadian marijuana producer that went public in July at $17 a share. Speculators drove Tilray up to $300 in mid-September before it slumped to $140 or so on Friday. Beware this overhyped weed stock.
The Securities and Exchange Commission also issued a stern alert about marijuana stocks in early September, warning of fraud and market manipulation.
Philly locals
Medical marijuana is now legal in 30 states. Pennsylvania, New Jersey, and Delaware are in the process of expanding their medical programs, and industry experts are gambling that full-adult recreational use could be legalized in the three states within five years. Nine states already have legalized adult-use cannabis.