Investing in Puerto Rico Pot Stocks
How to Get Rich on Puerto Rico Pot
The hottest cannabis market on the planet right now is the U.S.
With so many states on the cusp of legalization, savvy investors are getting in the game now — before the federal government lifts the prohibition on cannabis. Which, by the way, is about two years away.
It’s also worth noting that Puerto Rico is looking more and more lucrative, too.
Although not a state, this U.S. territory is becoming a magnet for cannabis entrepreneurs, as the island offers a very fertile landscape for medical cannabis production and sales. Additionally, it offers reciprocity for medical cannabis patients that have prescriptions in any of the legal states in the U.S.
Puerto Rico allows patients to get a medical cannabis card in a matter of minutes by utilizing a digital platform, as opposed to waiting weeks or even months, as is the case in certain states in the U.S.
Also worth noting, government is now seeking to decriminalize cannabis on the island, and it’s even launching an advertising campaign about the benefits of cannabis.
Make no mistake: In terms of finding a state — or in this case, a territory — that’s actively supporting the cannabis industry, few compare to Puerto Rico. So it’s no wonder that we’re now starting to see a number of publicly traded cannabis companies looking to set up shop there.
Green Spirit Dispensaries (OTCBB: GSRX)
Last week, SLANG Worldwide (CNSX: SLNG) announced that it had entered into a strategic partnership with Southern Development Holdings to sell its branded products in Puerto Rico.
Veritas Pharma recently announced that it was approved for an Investigation License from the Puerto Rico Medicinal Cannabis Regulatory Board. And a recent deal that had Harvest Health & Recreation (OTCMKTS: HRVSF) paying $850 million to acquire Verano Holdings, gives that company new cannabis assets in Puerto Rico.
Of course, those looking for more of a pure play on Puerto Rico's cannabis will be hard-pressed to find one.
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The only thing close to a pure play right now, that U.S. investors can buy, anyway, is Green Spirit Dispensaries (OTCBB: GSRX).
Green Spirit is in the process of acquiring, developing, and operating a number of medical cannabis dispensaries in some of the most densely populated areas of Puerto Rico. The company just completed construction on its seventh dispensary on the island.
Green Spirit is expected to announce Q1 earnings on Friday. Company reps announced last month that due to stronger than anticipated sales, it would be adjusting its revenue expectations upward, from $2.6 million–$2.7 million to $2.7 million–$2.9 million.
If GSRX hits the mark, it could get a nice bump. It’s a fairly thinly traded stock, so it won’t take much to move the needle.
Of course, if you’re looking to play the cannabis market, and you’re looking for something that carries a little less risk, you should definitely get the latest read-out from the S-50 Trigger trading algorithm, which has accurately predicted some of my biggest winners ever, including...
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Or you could just sit on the sidelines while everyone else gets rich.
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To a new way of life and a new generation of wealth...
@JeffSiegel on Twitter
Jeff is the founder and managing editor of Green Chip Stocks, a private investment community that capitalizes on opportunities in alternative energy, organic food markets, legal cannabis, and socially responsible investing. He has been a featured guest on Fox, CNBC, and Bloomberg Asia, and is the author of the best-selling book, Investing in Renewable Energy: Making Money on Green Chip Stocks. For more on Jeff, go to his editor's page.
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