We talk often here about “first mover” advantage.
It’s been shown time and time again that the first entities to establish a strong base of business in a young and fast-growing market can reap major benefits. Being first in on an opportunity in a growth industry usually means huge profits… and leaves your competitors perennially trying to play catch-up.
Although many states drag their feet when it comes to implementing legal recreational marijuana, Nevada is taking a different path.
This week the Nevada Tax Commission voted to start awarding temporary marijuana retail licenses starting on July 1 – six months earlier than expected. The catch is, only trustworthy companies already “in good standing” as licensed medical marijuana growers or dispensers can participate.
This is a perfect example of first-mover advantage.
In this case, these medical marijuana companies’ first-mover advantage gives them a head start on Nevada’s recreational cannabis gold rush.
This is great news for not only these companies but also their shareholders.
When it comes to legal marijuana, these are still early days.
As recently as 2013, legally sanctioned “medical marijuana” was worth only about $1.5 billion in sales. But this year – when more than half the states have some form of legal medical or recreational use laws – the cannabis sector will be worth $6.7 billion.
And it will be worth $35 billion by 2020… and $100 billion by 2029.
That makes legal cannabis perhaps the fastest-growing sector out there – and represents huge, long-term profit potential for “first movers.”
For you, if you move now…
To help you become a “first mover,” I’m hosting a special Pot Stock Briefing on Monday, May 15 at 6 p.m. (ET).
In fact, I’m traveling to Money Morning headquarters in Baltimore to put this together.
I’ll also be sharing some very big legislative moves barely mentioned by the press – new laws I believe will be huge new catalysts for penny pot stocks.
Best of all, I’ve got details on a handful of cannabis companies that could see their share prices double or triple in the next several weeks.
Again, we’re doing this on Monday, May 15 at 6 p.m. (ET).
Just click here to reserve your spot. There is absolutely no charge.
I’ll see you then.
Cheers and good investing!