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Would-Be Marijuana Investors, Look Past the Plant
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One of the primary concerns for investors researching the cannabis industry is “whether or not they want to touch the plant,” according to Gary Allen, chief operating officer for New Frontier Data.
“Some investors are nervous about the illegality nationally of the cannabis industry,” so they tend to stay away from investment opportunities that involve the actual sale of the plant, Allen said. Instead, they prefer opportunities like “technology platforms such as ourselves, ancillary services, product development, industrial development, biotech – there’s a lot of opportunity in all of those areas for investors.”
“Cannabis businesses still don’t have access to financial services. It remains a very cash-intensive business,” Kagia said.
The technological and business changes to relieve that pressure are only just starting to take place. Credit Union Times, a sister publication of ThinkAdvisor, reported in July that Partner Colorado Credit Union created Safe Harbor Services LLC to offer savings and checking accounts specifically to cannabis businesses.
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