Should you invest in 'pot stocks' after Proposal 1?

Posted at 5:25 PM, Nov 09, 2018
and last updated 2018-11-09 23:36:49-05

While some are just excited to be able to light up, others are seeing Michigan’s passage of legal marijuana as an opportunity to make some big bucks.

The Detroit company Benzinga hosted a pot summit of sorts, inviting potential investors and companies to learn how they can cash in. 

“There is a lot of growth in this area, I mean our market is going to be five times bigger than Colorado and that is a huge market,” said the CEO of Benzinga Jason Raznick. 

Around 150 people attended the event, all learning for ways to cash in. 

“So there’s grow operations where you actually grow the cannabis there are those things and then there are people that are like that have licenses 40 licenses to open up individual locations and then there are the investors that want to invest in these places,” said Raznick. 

Raznick says part of the interest for investors and companies is the rush to beat out the competition. 

“Who is going to build the first brand? Who’s going to become the Budweiser or the Nike of the space?” said Raznick. 

One of the speakers included the Director of the Michigan Department of Licensing and Regulatory Affairs to shed light on the regulation of marijuana. 

The legalization of weed in Michigan could mean more companies being started right here in Michigan. 

“Instead of a company that comes from you know California why can’t the company start here in Michigan,” said Raznick.