At the National Institute for Cannabis Investors, we talk a lot about cannabis banking. That's because accessing loans and depositing money are still huge hurdles facing cannabis companies.
But the progressive financial firms that realize how much money there is to be made working with legal cannabis companies will be handsomely rewarded.
And I've found the perfect play…
Just like when we talked about Innovative Industrial Properties Inc. (NYSE: IIPR) – which is now up almost 100% since we launched the American Cannabis Summit on Oct. 23, 2018 – we wanted to add another way for you to try and capture an additional potential triple-digit return.
Of course, timing is everything, so you may have not seen when we first mentioned Innovative Industrial Properties and bought it at a higher price, or you may have simply chose not to buy its shares.
But if you missed out, that's okay. I wanted to share another play with you today that could offer a similar profit opportunity, and the timing is perfect.
I talked to my friend and banking expert, Money Morning Special Situation Strategist Tim Melvin, and he tells me that as of right now, there is only ONE publicly traded bank taking on cannabis customers – the rest are credit unions or privately held banks.
I've held off talking about this company too much before because it faced some significant challenges outside of its cannabis business. However, those challenges seem to be behind it, and we could soon see a quick jump in the stock price thanks to some positive headwinds.
So right now, I'm going to share with you hopefully another big winner to add to your growing list of cannabis investments…
About the Author
Greg Miller started working on Wall Street in September, 1987, just a month before the “Black Monday” stock market crash.
During his career there, he became an expert in just about every kind of publicly traded security - from blue-chip and small-cap stocks to municipals, junk bonds, and derivatives. As a portfolio manager, Greg was responsible for over $500 million of assets in mutual funds and insurance company accounts.
After leaving the Street, he designed a successful options trading strategy and made lucrative tech investments for a financial publication. He has also helped develop new products and worked with other editors to hone their strategies. He’s always been dedicated to deep, fundamental research - and he always will be - because he believes buying the very best companies at the right price is the best way to amass wealth in the stock market.