Millennials Top Stock Pick Isn’t Apple- It’s This Cannabis Company
by Dan Larkin
Millennial investors like Apple stock, but not as much as they love a cannabis company stock. The investment app Robinhood tracks this kind of thing and they’re reporting Apple is no longer the No. 1 most-held stock among millennials on their app.
Aurora Cannabis, a Canadian company, has taken the top spot. Basically. this signals cannabis’ rise as a legitimate industry. The Robinhood list of the Top 20 most-held stocks on their platform used to be dominated by tech stocks. But, guess what? Cannabis stocks are quickly taking over.
Why cannabis stocks?
So, why are millennials and even Generation Z’ers embracing Aurora and other cannabis stocks? Well, one reason is likely the “cool factor”. You know, it’s pretty cool to be invested in cannabis, right? Some other reasons would probably be that younger adults don’t feel the stigma that many older investors experience so it makes it an even playing field with any other industry when it comes to investment decisions.
On top of that, cannabis stocks look cheap compared to more established stocks like Apple, so you can buy more of them for the same amount of investment. While that may not be a great reason to chose a stock, it’s not necessarily a reason to forego it either. Virtually all signs point to the huge future growth of the cannabis industry. Once the US legalizes cannabis, the growth is expected to accelerate very rapidly.
“As this matures from a regulatory standpoint in the U.S. federally, the market is going to get even bigger and bigger,” Hawkins said. “It’s just scratching the surface on how big this industry can be.” […]
Should I be investing in cannabis?
So, you may be asking yourself, “Should I be investing in cannabis stocks too?” Well, that is a question only you can answer for yourself. As always, with any investment, you have to weigh your personal financial situation, your tolerance for risk, and your investment goals. Always, always, always do your research. Talk to an investment professional and when possible, to people in the industry to help you make wise choices.
In conclusion, being cool like the other kids is alright, but making money on your investments is the ultimate cool. So, do your homework and your due diligence and then, if its right for you and you want to have some skin in the game in an industry you support, take a look at cannabis stocks or cannabis ETF’s.
NOTE: Nothing that I’ve written should be construed to be a recommendation or endorsement of any company, stock, or investment opportunity.
Full Disclosure: I do have investments that include Apple and Aurora Cannabis stock, as well as other tech and cannabis stocks.
Are you investing in the cannabis industry? Why or why not? Share your Cannabis In Real Life thoughts with us. Email us at email@example.com