The Best Pick-and-Shovel Plays for the $10 Billion Marijuana Industry (Part 1) – Money Morning

Marijuana stocks can offer explosive returns, and we’ve seen gains as high as 523% from small pot startups. But the potential keeps growing…

Full medical marijuana legalization in the United States is a “when” and not “if” question, but we understand not every investor is comfortable with buying shares in companies that grow and sell cannabis.

Fortunately, there’s another option. You can also invest in “pick-and-shovel” plays in the $10 billion cannabis industry.

During the California Gold Rush of 1848, 300,000 people went to the Golden State seeking their fortune.

However, savvy businesspeople knew there was also money to be made in selling the goods (picks, shovels, clothes) needed to dig for gold.

There was only a small chance of striking it rich by digging for gold, but every miner needed these basic resources.

One such seller was Levi Strauss of Levi’s jeans fame. He started making durable trousers for miners in 1853.

He died in 1902 with a net worth of $6 million. In 2017,

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