From retirees to young potheads, marijuana investors chase new highs from promise of ‘trillion-dollar industry’

Financial Post | Business

[np_storybar title=”‘Potcom Boom’ gets higher and higher as regulators watch with concern” link=””]

It is being called the “Potcom Boom” and it has certainly given investors a high in recent months. But how long can it last?

Plenty of excitable retail investors and even more excitable stock promoters made Toronto’s first marijuana investment conference resemble a typical junior mining show.

That was appropriate enough, since a number of these marijuana firms were indeed junior mining companies until a few months ago — including the one that put on the conference.

“It’s the new trillion-dollar industry,” John Berfelo, medical advisor to conference host Next Gen Metals Inc., told the audience. “We don’t have to mine it from the earth. We have to grow it from the ground.”

Make no mistake, this is indeed an industry growing from the ground up. There were precisely zero marijuana companies on Canadian stock exchanges…

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