Should investors buy marijuana stocks?

www.salon.com
Date:
Friday, Aug 30, 2019

Illinois recently became the 11th state to legalize marijuana for recreational use. As more states follow suit, legal cannabis spending is expected to grow over 200% from about US$9 billion in 2017 to $31 billion in 2022.

With these unparalleled increases in spending, marijuana stocks, including marijuana exchange-traded funds, with catchy tickers such as YOLO, an acronym for “you only live once,” are becoming more common.

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So should people add these stocks to their portfolios?

The rise of socially responsible investing

As a business ethicist, I know that socially responsible investing has become more popular, especially with millennials. Socially responsible investments experienced a 38% increase between 2016 and 2018. At the beginning of 2018 alone, $11.6 trillion was invested in socially responsible funds. This translates into $1 out of $4 of all U.S. invested funds.

Investors committed to being socially conscious have more choices than ever and can expect similar returns to traditional investors.

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