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Americans love their four-legged friends.
If you're inclined, you can treat your pet to an impressive array of goods and services: spa beauty treatments, gourmet and organic foods and treats, top-flight veterinary care (privately insured, of course), designer pet clothing – the only limit is the depth of your pocket.
As you can imagine, that doting approach to pet ownership is very lucrative for the companies on the supply side.
Americans will spend an estimated $75.3 billion on their pets this year alone. PetSmart Inc. (NASDAQ: PETM) boasts a market cap north of $8 billion. There are not one but two "pet sector" exchange-traded funds (ETFs) available to buy, tracking a deep roster of publicly traded pet companies and service providers.
And now, Fido and Mittens can enjoy a regular regimen of CBD, with all the benefits that entails.
Cannabis companies with the vision and foresight to cash in on this trend are rushing to cater to it.
The good news is that if you're following along with my recommendations, you already own one of the biggest, richest players in the all-new "pet CBD" segment…
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.