Imagine if Jeff Bezos had been forced to shove Amazon's profits in shoeboxes or under his mattress. Think Amazon.com would be worth nearly $1,750 a share today? Of course not.
If that sounds ridiculous, it isn't. Cannabis firms face this problem, even in states where weed is completely legal.
Yes, the cannabis business has a banking problem.
Thanks to its illegality at the federal level, most banks simply won't deal with companies that "touch the plant" – even if marijuana is fully legal in their state.
But something truly extraordinary, even unprecedented, could be about to unfold in – you guessed it – California.
You see, if California Sen. Robert Hertzberg and the supporters of his 2018 bill get their way, the Golden State will create its own special banks to handle the business of cannabis firms.
This is a huge development, and if it passes, it could mean entirely new ways to invest in the high-profit weed sector.
Let me explain…
About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.