Chris Parry: Marijuana Bull Market Has Started But Still Very Speculative

Jason Burack of Wall St for Main St interviewed journalist and investment analyst for Canada’s largest and most popular investing website, Chris Parry about the marijuana industry and potential investment opportunities.

Chris worked at the Vancouver Sun for 5 years as a journalist prior to joining Chris’ articles can be found here:

He normally covers a few Canadian marijuana companies a month in his articles and he writes extensively about the industry. He’s also a consultant for the marijuana industry helping companies in the industry.

During this long, in depth 40+ minute interview, Jason asks Chris about the history of marijuana prohibition in the US and what it’s meant for society.

Chris talks about how it helped create a very profitable Black Market, it grew organized crime and how it helped put many millions of Americans in prison for non-violent crimes.

Chris compares the War on Drugs and specifically on marijuana to Prohibition of alcohol in the US in the 1920s.

Jason and Chris discuss how now that Colorado is making about million/month in extra tax revenues from their marijuana legalization program how many more states will attempt to copy them to bring in more tax revenue and this may lead to the end of drug cartels making huge profits off marijuana.

Chris thinks this will benefit consumers as they will not have to risk death or being robbed at gun or knife point to score some pot.

Next, Jason asks Chris how Canada’s marijuana legalization program is different from the US.

Chris says Canada has a very high regulatory standard before any marijuana grower can get a license to grow. He thinks that makes a big different for a number of reasons.

Jason and Chris then discuss investing opportunities available right now in the marijuana industry. Chris says there’s way too many penny stocks that are over the counter (OTC) in the US with unproven management teams, limited business plans and highly questionable financials.

Jason agrees. Chris thinks more conservative long term investors should wait until there’s more consistent revenue and earnings growth from American and Canadian marijuana companies before making any kind of non-speculative investment into a company.

Jason and Chris discuss how in Canada many resource and shell companies because of the cyclical bear market in commodities have changed their name to a marijuana company to attract capital and boost their stock price. Many of these companies lack a business model but are masters at sending out clever PRs to boost the stock price.

Jason and Chris think the large, multinational American tobacco companies like Phillip Morris International, Lorriard, and Altria will start moving into the industry over the next few years.

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