Although the legal marijuana industry is still very much an emerging niche for stock market participants, the market for investing in cannabis is maturing.
In a recent sign of how far the legal cannabis sector has come, BlackRock Funds has made substantial investments in dispensary operator Curaleaf Holdings, the same company that also announced it will sell products infused with a non-psychoactive hemp component in CVS Health Corp (NYSE: CVS) stores.
Institutional Investment, Industrialized Processes
The CVS deal indicates that cannabis products are becoming more mainstream. The BlackRock investment is a high-profile example of institutional money entering a space that has been called the Wild West of investing. “We expect to see a floodgate [open]of more institutional investment,” said Matt Karnes, founder and managing partner with GreenWave Advisors.
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