Why Is Everybody Talking About GrowGeneration?
We cannot name the winners of the marijuana retail market yet. We know it's going to be huge. But most of us have no idea which companies will rise to the top. We don't even know when pot will be fully legalized in the U.S. That alone keeps a lot of potential investors on the sidelines.
One way to play this uncertainty is a "picks-and-shovels" strategy. You don't bet on the people who are making the mad rush to find the gold. Instead, you invest in the people who are selling the picks and shovels to all the miners. That's why my family owns shares of Innovative Industrial Properties (NYSE: IIPR). That company provides financing to pot entrepreneurs. But perhaps an even stronger picks-and-shovels candidate is GrowGeneration (NASDAQ: GRWG). This fast-growing retailer owns and operates a chain of hydroponic and organic gardening stores focused on the marijuana industry. Its motto? "Where the Pros Go To Grow."
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Source Fool.com
