In a testament to its medical efficacy, 29 states and the District of Columbia have now legalized medical marijuana. This groundswell with state sanction and now widespread public acceptance has started a stampede of companies jockeying to profit from legalization. From the sale of oils and extracts to specialized cultivation, multiple companies are rushing into this new market hoping to cash in on surging demand. However, rushing in just might not be the right approach to making real money in this sector.
There’s an old adage that says the way to create real wealth is to find out where everyone is going, get there first and buy real estate. Utilizing a strikingly similar approach, one interesting company is strategically staking claims to medicinal marijuana territory. India Globalization Capital (NYSE MKT: IGC) formerly mined and converted low-grade iron ore to high-grade ore until prices plummeted. It was then that company management made the decision that to preserve shareholder value it must change course. As a result, IGC entered the burgeoning medical marijuana market. It’s estimated that sales in the cannabidiol (CBD) market, the medicinal non-euphoric part of cannabis, will grow 700 percent to nearly $3 billion annually by 2020. That kind of explosive growth is certain to attract multiple pretenders to the throne.
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India Globalization Capital (NYSE: IGC) Strategically Staking Claims in the Medical Marijuana Markets
