Many investors still not high on pot stocks
The trend prompted Founders Fund, the San Francisco-based venture capital firm run by PayPal co-founder Peter Thiel, to enter the fray in January. The company agreed to invest millions in Privateer Holdings, a private equity firm in Seattle that's backing several private marijuana start-ups, including Tilray, a Canadian medicinal pot company, and Marley Natural, a weed purveyor launched by heirs of the late reggae star and ganja devotee.
Founders' infusion prompted several other mainstream private investors to finally take stakes in that rapidly growing yet complex and still risky multibillion-dollar marketplace. The ArcView Group, a cannabis industry investment and research firm based in Oakland, California, predicts a 33 percent rise in marijuana sales this year, to $3.5 billion from $2.7 billion in 2014. And that's just for legal weed alone.
While private funders are gradually getting into the game, retail investors have been in it for a...
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