5 ‘SHARK TANK’ STARS GIVE ADVICE ON INVESTING IN THE POT INDUSTRY

After seven seasons of listening to entrepreneurial ideas—some strokes of genius, others disasters—there’s one pitch that the “Shark Tank” investors have yet to hear: a marijuana business.To celebrate the show’s season eight premiere, Entrepreneur‘s West Coast editor Kim Lachance Shandrow sat down with Kevin O’Leary, Barbara Corcoran, Robert Herjavec, Mark Cuban and Lori Greiner to pick their brains about the cannabis industry.Here’s what those investment “Sharks” had to say:

Kevin O’Leary
Net Worth: $300 million

Photo Courtesy of ABC's Shark Tank

PHOTO COURTESY OF ABC’S SHARK TANK

“I would love to invest in the marijuana industry. I’ve looked at four different deals, but my lawyers tell me I can’t because we need a better mandate. There’s a RICO statute in the way. I’ll land my plane in Florida and I’ll get arrested because I invested in something in Colorado. I can’t do it.

“I have to hold off for now. I can’t take that risk. I can’t go to jail for being a cannabis investor. My advice to entrepreneurs in this space right now is to stay in the state in which you have your mandate and figure out a way to redeploy your cash because you can’t put it in a bank.

“This is like the end of prohibition. It’s going to be a remarkable opportunity. The cashflow in Colorado is three times what they thought it was going to be. They did the right thing by legalizing it and it’s now a huge cash crop. People should not be going to jail for marijuana. This is substance that’s been used by humans for thousands of years. It’s stupid what we’ve done to it, and I think it has to be federally legal.

“California will switch soon. Once that happens, I think the floodgates will open and I will be one of the first investors when it gets a federal mandate.”

Barbara Corcoran
Net Worth: $40 million

Photo Courtesy of ABC's Shark Tank

PHOTO COURTESY OF ABC’S SHARK TANK

“I would like Daisy Cakes, one of my best investments from Shark Tank, to make marijuana cakes. Their home-cooked cakes from the south and my girl there is making tons of Daisy Cakes, doing great already. I love her, but I want her to make a marijuana cake, but she won’t do it. I advised her to, but she says it would ruin her brand. She’s mistaken.

“My advice to entrepreneurs looking to enter the marijuana business is to be early in their market, because this is a market that’s expanding like crazy. I was in Aspen, Colo., last winter and there were four salons where I could buy marijuana. Now I don’t smoke it, so I didn’t. But these salons where you can get it are more luxurious than the night clubs out there.

“Pot’s a big business. People know what the profits are going to be, so I think hitting it fast and early is the number-one prize.

“What’s going to destigmatize marijuana is having the old people die off. Anyone who’s under 30 believes in it.”

Robert Herjavec
Net Worth: $100 million

Photo Courtesy of ABC's Shark Tank

PHOTO COURTESY OF ABC’S SHARK TANK

“I have no problem with it. I think anything to legitimize any kind of substance that used to be illegal is great because I think you always want to take the criminal element out of it, and I like things that are regulated.

“In terms of a business trend, I think it’s already too late to invest. Like any trend, if we’re talking about it, it’s already happened. It’s the old Wayne Gretzky quote, ‘Don’t go where the puck is. Go where the puck’s about to be.’

“I would invest, but I don’t know anything about it. It’s just not an area that I understand. I like to invest in things where I understand the tipping points and what’s going on.”

Mark Cuban
Net Worth: $3.3 billion

Photo Courtesy of ABC's Shark Tank

PHOTO COURTESY OF ABC’S SHARK TANK

“Would I invest in the cannabis industry? No. Not because I have anything against pot. I don’t care. But right now it’s a gold rush. When everybody’s rushing in it’s hard to keep track of what everybody’s doing because there’s a new startup every single day. I think the oversaturation of the market creates a very difficult challenge. Plus, Snoop’s in it [laughs]. And if Snoop Dogg’s in it, it’s over for everyone else.

“I always look at investing in businesses where I have a competitive advantage, and smoking it is not a competitive advantage, then it’s not something that I’d get into.

“There’s a saying that I live by: ‘First there are the innovators. Then there are the imitators. Then there are the idiots.’ The three I’s. You have to know which one you are, and I think already in the cannabis industry, we’ve at least gotten to the imitators and we may already be to the idiots.

“Plus, there are so many complicated issues in the industry, like dealing with banks and all of the regulatory red tape. It’s not going to get simpler, so I’d rather invest elsewhere.”

Lori Greiner
Net Worth: $50 million

Photo Courtesy of ABC's Shark Tank

PHOTO COURTESY OF ABC’S SHARK TANK

“What’s crazy is, everything changes with the times. I think, look, if it’s medical marijuana and it helps people, I don’t think it’s a bad thing. I think whatever helps people to feel better, especially if you’re not feeling well for a medical reason, it’s OK. I mean, a lot of people are making a lot of money with it, and I’m not one to judge.

“Everybody should be able to do it legally. Would I invest in it, though? I don’t know. I have so many investments as it is, I don’t need another one. I’ll let other people deal with that, because it’s not that easy of a space to navigate.”

How to Invest in Canadian Cannabis Stocks

April 9, 2017 at 10:04 am by Alan Brochstein, CFA Editors Note: Staying a breast of these fast markets in the cannabis space is very challenging and time consuming. We suggest you also take a subscription with Alan Brochstein, at 420Investor.com. Alan is literally the ‘boots on the ground’ in the cannabis space. Highly respected and in touch with the management of companies he recommends. With Canada set to make history this week by tabling legislation to make the nation the first G-7 country to legalize cannabis for adult use, many investors are focusing on the market. 33 companies hold 41 licenses issued by Health Canada under ACMPR to cultivate or sell cannabis, and 11 of these trade publicly on either the CSE, the TSX Venture or the TSX, with several others prepared to begin trading this month. Each of these stocks can be bought by anyone who has an account that permits the … Continue reading

VPOR Shares Are On Fire With New Easy Grinder ™

NewGen Concepts, Inc., formerly Vapor Group, Inc., VPOR, Reports First Production Run of 20,000 Units of Easy Grinder ™ Is Sold Out   Editors Note: VPOR shares have been on fire albeit at a very low price level, but in our opinion this could be a monumental opportunity if the company can continue to execute on their business plans. Shares are still High Risk, but High Opportunity. In full disclosure, we are owners of VPOR at lower prices.   NewGen Concepts, Inc., formerly Vapor Group, Inc. (OTC Pink: VPOR), (“Company”), reports that its initial production run of Easy Grinder™ scheduled to produce 20,000 units which will produce over $1,000,000 in gross revenue is sold out due to exceedingly strong retail and re-seller pre-orders and reservations. Online demand isincreasing daily and wholesale distribution requests are now arriving from re-sellers in Europe. The Company believes that such international demand for Easy Grinder™ is … Continue reading

The Future of Cannabis Investing

Source: Tom Beck for Streetwise Reports  (2/3/17) The cannabis industry attained new highs in 2016, paving the way for some big changes this year, says Tom Beck, senior editor of Portfolio Wealth Global. New Frontier Data Four states in the U.S. voted in favor of legalization on November 8th of 2016, and it was expected that the cannabis market would rake in over $6.7 billion from the U.S. alone in 2016. It only gets better from here. For starters, sales of cannabis are set to rise to $22.8 billion in the U.S. by 2020. The graph above captures the rollicking growth rate of the market. Portfolio Wealth Global sees this as a dam bursting, but the magnitude of the moment is understated—that’s because even top hedge fund managers still don’t have a handle on whom the top dogs are, and that’s exactly the opportunity we see in building strong relationships with … Continue reading

The Cannabis Market That Could Grow 700% By 2020

Debra Borchardt , CONTRIBUTOR I write about retail and cannabis. Opinions expressed by Forbes Contributors are their own. Cannabidiol (CBD) is the part of the cannabis plant that doesn’t get you “high” like the THC side of the plant. It is typically used for health reasons instead of for recreational purposes. The CBD products are either derived from industrial hemp plants or marijuana plants. The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That’s a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries – bringing a total CBD market to $202 million last year. Matt Karnes of Greenwave Advisors is even more optimistic about the … Continue reading

The Election Trade: Cannabis Stocks Continue to Rally

October 18, 2016 Technical420 Cannabis stocks continue to run higher and this rally has shown no signs of stopping with the election less than a month away. Legal cannabis is coming and the election will be one of the most significant event-driven catalysts for cannabis stocks as a record number of states are voting on some form of legal cannabis. With California voting on legal recreational marijuana and a legal medical marijuana initiative on the ballot in Florida, the elections represent a watershed moment for the cannabis industry. Cannabis Ballot Initiatives Ahead in the Polls   Not only are a record number of states voting on legal cannabis, but the polls show that legal cannabis is leading in every state where there is such an initiative on the ballot. The legal cannabis industry has gained a lot of ground in the last two years but we are still in the … Continue reading

The Next Big Cannabis IPO

October 14, 2016 By: John Stewart Play Interview   The Canadian cannabis industry continues to be a top place to invest as medical cannabis is legal at the Federal level and here, you will hear from John Stewart of Emblem Corp and learn about a federally licensed producer of medical cannabis that is going public in November. Michael Berger:  Joining us today is John Stewart, the President of Emblem Pharmaceuticals.  How are you doing today, John? John Stewart:  I’m doing well, thanks for asking, Michael, and, more importantly, thank you for the invitation to participate in your show. Michael Berger: We’re very happy to have you on.  Today, we’re going to focus on Emblem Corp, a licensed medical cannabis producer in Canada.  John, can you tell us a little bit about Emblem, its three divisions, as well as some of the goals you have for Emblem Pharmaceuticals? John Stewart:  Sure, … Continue reading

Leak Reveals Clinton Promised Bankers To Stand Against Marijuana Legalization

Katelyn Baker October 12, 2016 WikiLeaks has arguably been the most important thing that has happened to elections, if not the veneer of democracy, in quite a long time. We’ve been able to see the true side of politicians and bureaucrats like never before. In Hillary Clinton, we see a figure beholden to Wall St., working diligently to advance the influence of financial corporations over government policy and taxpayer money. Her mega-donor list is a who’s who of megabanks that also happened to benefit from the TARP government bailout. In return for their money, Clinton gave speeches to Wall St. giants behind closed doors between 2013 and 2015. She told Goldman Sachs she was “far removed” from ordinary people and that “you need both a public and a private position.” Clinton has vacillated terribly on the issue of the Trans-Pacific Partnership (TPP), which is a gift to her donors but … Continue reading

Don’t Fall Over, but Medical Marijuana Just Scored a Big Victory on Capitol Hill

The federal government just softened its stance on a very specific use of medical marijuana. Although its track record at the state level may not be perfect, medical marijuana has scored far more victories than defeats in recent years. Medical marijuana spreads its wings Following its first approval 20 years ago in California for compassionate use cases, medical marijuana has now become legal in 24 states, as well as Washington, D.C. The latest state to legalize the use of medical marijuana was just as much of an eye-opener as the first. Pennsylvania legalized the use of liquid, pill, or oil formulations of marijuana for medicinal use in mid-April, though it did so entirely at the legislative level (i.e., without residents voting). Pennsylvania could be the first of many states taking matters into their own hands from a legalization perspective. Medical marijuana has two primary supporters fueling its cause. In one … Continue reading

Bernie Sanders Supports Cannabis Legalization Initiative in California

        May 27, 2016 The United States’ most left sided candidate in the presidential race recently supported the cannabis legalization act in California, also known as the Adult Use of Marijuana Act; bringing success to the “Let’s Get It Right, California” campaign. “You’ve got a pretty good ballot initiative coming up in November,” Sanders said to people in California when talking about cannabis policy a few weeks ago. Sanders put down the fact that young people have criminal records for marijuana while those working on Wall Street were never put away after ruining the economy. Recently, Sanders only reiterated that, but louder. “I do not live in California,” the Vermont senator said at a rally. “But if I lived in California, I would vote ‘yes’ to legalize marijuana.” Out of all the presidential candidates, Bernie Sanders is the largest supported of marijuana law reform. He claims that … Continue reading