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The legal cannabis industry will grow 145% from $10 billion in sales in 2017 to $24.5 billion by 2021. But there are still misconceptions about the billion-dollar market.
Workers are lazy. Building a cannabis business is easy. Marijuana dispensaries attract crime. You'll lose all your money investing in marijuana stocks.
The list goes on...
But these misconceptions can lead to missed profit opportunities through pot stocks.
Just look at Tilray Inc. (Nasdaq: TLRY)...
Tilray cultivates, processes, and distributes medical cannabis.
TLRY went public on July 19 at $23.05 per share. Today (Sept. 5), the TLRY stock price opened at $86.50 per share.
If you believed any of the misconceptions I mentioned above, you wouldn't have invested in this company and would have missed out on 275% returns.
That's why I reached out to leading cannabis experts to relay the most important misconceptions about marijuana that Money Morning readers need to avoid.
Renegade Investment Expert: "It's time to double down - or even triple down - on your cannabis investments!" Read more...
It could be the difference between making a 275% gain and just watching your money sit on the sidelines...
Cannabis Experts Say to Avoid These Misconceptions
The first expert I spoke with wants our readers to know that those working within the cannabis industry are just as hard working as anyone else is.
Shauntel Ludwig is the Vice President of Operations for DaVinci, a popular dry herb vaporizer company with a strong line of products. DaVinci's vaporizers are exactly what they are supposed to be - advanced, superior, and portable.
Misconception: Those who work in the industry are a bunch of "stoners."
If you think anyone can start their own cannabis business as a get-rich-quick scheme, you need to read what our next expert said...
Dustin Iannotti is the co-founder of Artisans on Fire, a cannabis-focused marketing agency based in Las Vegas, Nev.
Misconception: Building a cannabis business is an easy money grab right now.
Some anti-marijuana activists have opposed dispensaries opening up, citing that they would attract crime.
But the fact is, studies have shown that's just another misconception...
Jason Santos is the Chair and CEO of Burn Entertainment Corp., a digital lifestyle and entertainment platform embracing the legal cannabis industry. Unlike similar platforms directed at distinct demographics, BurnTV looks to bring broadcast quality productions programmed for all tastes and platforms, with no gender, age, or other demographic restrictions.
Misconception: Cannabis businesses attract crime.
The next expert I spoke with said the terms used within the cannabis industry could cause confusion when they are thrown around haphazardly.
Lex Pelger is the Science Director for Bluebird Botanicals, one of the largest quality hemp extract manufacturers and retailers in the world.
Misconception: "Marijuana," "hemp," and "cannabis" are the same thing.
Marijuana stocks are often clumped into broad lists, but not all have the same risks...
Pantelis Ataliotis is the President of Dr. Dabber, a vaporizer company that created the revolutionary SWITCH induction vaporizer. Based in Nevada, Dr. Dabber is focused on developing innovative, technologically advanced products.
Misconception: Investing in the industry cannabis is inherently risky.
Finally, our last expert said that the work on medical cannabis is just starting, even with recreational legalization sweeping North America...
Lisa Harun is the CMO of Vapium, a Canadian vaporizer company focused on providing durable, portable high-tech devices designed for outdoor use.
Misconception: Medical cannabis is just a stepping-stone to recreational.