The marijuana business is booming in Colorado, with pot sales topping $100 million for the first time in August.
But should investors put their money into the cannabis industry?
The State of Colorado doesn’t quite say “no,” but it comes close.
Colorado’s Division of Securities has issued an “investor alert” that warns folks against pouring their cash into the “next big thing.” And the document includes marijuana alongside binary options and digital currency such as bitcoin as business opportunities that may turn into money losers, not big winners.
“At first glance, these products appear to have no real connection to one another, Securities Commissioner Gerald Rome is quoted as saying in a division news release. “But what they all have in common is their recent emergence as three investments that both sellers and buyers hope will become the ‘next big thing.’ Before you consider investing, make sure you understand what these products are, their benefits, and their risks.” [Read more at Denver’s Westword weekly]