December 10th, 2023
Snoop Dogg is not shy about his love of marijuana.
And while his claim to fame is music, not plants, it's actually marijuana that's likely to net him more money than he ever made in the music business.
This is a pretty big deal when you consider his net worth — most of which is the result of his music career — comes in around $135 million.
But today, Snoop is not just a musician — he's an exceptionally gifted entrepreneur. And a sizable portion of his investment dollars is being funneled into incredibly profitable legal marijuana ventures. He even ponied up $25 million to launch his own fund focused on the legal marijuana market.
Of course, this should come as no surprise. After all, Snoop isn't the only celebrity millionaire betting big on marijuana. Guys like former Facebook president Sean Parker, PayPal co-founder Peter Thiel, and even billionaire George Soros have all staked their claim to the legal marijuana market. And with good reason.
You see, the truth is, marijuana is considered to be the largest cash crop in the United States.
Enjoying a growth rate of 77% over the last few years and an estimated 700% growth rate by 2018, it's bigger than corn, bigger than cotton, and bigger than wheat.
In fact, according to UN data, it's valued at about $142 billion.
To put that in perspective, the global coffee market — one of the most valuable commodities on the planet — is valued at about $80 billion per year.
The bottom line is that marijuana is no longer the underground drug that can only be bought on street corners from criminals. It's now a viable industry that's making investors an absolute fortune.
Take, for instance, Novus Acquisition & Development Corp. (OTC: NDEV), a company that provides health insurance and medical plans to patients who pursue alternative treatment with medical marijuana.
This was one of the biggest winners in the marijuana space back in 2014. Check it out…
A $10,000 investment in NDEV turned into $240,000 in less than a year.
Double that up, and you're looking at $480,000 — nearly a half-million dollars in less than a year!
Or consider Insys Therapeutics (NASDAQ: INSY), a specialty pharmaceutical company that's using a special spray technology to develop pharmaceutical cannabinoids.
In February of 2013, the stock was trading at around $2.50. By July 2015, it hit $44.92.
That's a gain of almost 1,700%!
Imagine putting $50,000 in INSY in early 2013 and cashing out a little more than two years later. That would've put an extra $800,000 in your pocket.
Of course, those two stocks are yesterday's news. But there are plenty of new legal marijuana stocks that are ripe for the picking.
In fact, in our latest legal marijuana outlook report, “Marijuana Outlook: Best Stocks to Buy,” we highlight three legal marijuana stocks that are poised to be the next big winners in the space. You can access this report, which includes the names of these companies and their ticker symbols, by entering your email address in the field below.
Once you do that, you'll immediately get access to our latest marijuana outlook report. And as a bonus, you'll also receive our FREE daily e-letter, Wealth Daily.
Investors are lining up to be first in line for this next wave of legal marijuana stocks, so don't wait.
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