43% of investors have at least one cannabis-related stock or fund, with users four times more likely to invest

CHARLOTTE, NC, June 14, 2021 / PRNewswire / – With support for cannabis legalization at an all-time high in the US, it should come as no surprise that more and more people are investing in cannabis-related stocks. The latest MagnifyMoney poll of 1,200+ investors found that 43% are currently investing in the cannabis industry.

And given that the majority of these investors got involved in 2020 or 2021, it’s not unreasonable to imagine more investors coming soon.

Key findings:

  • Cannabis-related investments are becoming widespread. 43% of investors currently hold at least one cannabis-related stock, be it a single stock, a mutual fund, or an exchange traded fund (ETF).
  • Most cannabis investors have recently invested money in a related stock or similar fund. More than a third (34%) said so in the past week, and another 33% in the last month. Regardless, 60% expect to invest more money in cannabis in the next six months.
  • Cannabis users are more likely to invest in these stocks. 65% of cannabis-using investors invest in related stocks, while only 16% of non-cannabis investors invest in the industry.
  • Those who do not invest in cannabis may be more willing to do so should it become legal at the federal level. 53% of those who don’t invest in cannabis said they would consider it at this point.
  • More people expect to get rich from investing in cannabis than those who think they will get rich from investing in cryptocurrency. 75% of cannabis investors said they believe they will get rich from these investments, compared to 62% of crypto investors who said the same about related investments.
  • Cannabis investors aren’t in for the short term, but neither do they expect to hold their investments forever. Most cannabis investors expect to hold onto their current cannabis investments for one to three years (48%) or four to six years (26%). Only 8% expect to do this over 10 years.

The end of the federal cannabis ban could spark a new wave of cannabis investors. The possession of cannabis for medical or recreational purposes is still strictly prohibited under federal law. That doesn’t mean you will be arrested for investing in cannabis stocks, but the growth of the entire cannabis market continues to face obstacles due to prohibitions, even if legalized in various states in the United States

Perhaps based on understanding these hurdles, 53% of those not currently investing in cannabis stocks would consider investing if the plant became federally legal.

“Legalization could lead to a bigger market as more people use cannabis and research leads to more use cases,” says LendingTree chief economist Believe repentance says. “Previously, investing in this area meant illegal activities with significant personal risk.”

The full report can be found at: https://www.magnifymoney.com/blog/news/cannabis-related-stocks-survey/.


MagnifyMoney hired Qualtrics to conduct an online survey of 1,233 US consumers with an investment account of 3rd-6th May 2021. The survey was conducted with a non-probability based sample and quotas were used to ensure that the sample base represented the total population. All answers were checked by the researchers for quality control.

In 2021 we defined generations as the following age groups:

  • Generation Z: 18 to 24
  • Millennial: 25 to 40
  • Generation X: 41 to 55
  • Baby boomers: 56 to 75

Although consumers of the silent generation (defined as 76 and older) were also included in the survey, the sample size was too small to include information about this group in the generation breakdown.

About MagnifyMoney

MagnifyMoney.com, a subsidiary of LendingTree, makes it easy for consumers to buy the best financial products and get answers to their key financial questions. MagnifyMoney’s unbiased advice and comprehensive product database helps millions of people compare credit cards, loans, checking and savings accounts. MagnifyMoney’s newsroom of personal finance experts is dedicated to helping people save money and lead healthier financially healthier lives through strategies and tips on how to avoid fees, get debt relief, pay off student loans, and avoid Consumer fraud and other financial issues. MagnifyMoney was launched in 2014, acquired by LendingTree in 2017 and is based in New York, NY. More information is available at www.magnifymoney.com.

Media contact:
Nancy Jones
[email protected]

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SOURCE MagnifyMoney.com

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