Canadian marijuana companies may not be savvy investment just yet
Canadian medical marijuana producers are in the spotlight, thanks to high share prices and a more than $1 billion valuation for Ontario-based Canopy Growth Corp. So should Canadians consider the country's booming marijuana sector as an investment opportunity?
Not necessarily, say investment experts.
Pat McKeough, chief investment officer for TSI Wealth Network in Toronto, said a number of his clients have asked about marijuana stocks. But "none of them" have struck his team as anything they would recommend.
Amid the relatively new industry's explosive growth, not every company will achieve long-term success, he said.
"When cars first came out, they were a wonderful invention, and there were about a hundred companies at one point... but only a handful survived into the 1920s," McKeough said.
South of the border, Alan Brochstein, founder of 420 Investor and New Cannabis Ventures, has been following Canadian medical marijuana producers closely for several years.
Part of the recent uptick in...
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