Over the past few years the profitability of the cannabis industry has grabbed the attention of investors. However, for many of them, the legal grey area that currently stands causes hesitation when investing directly into facilities. Also, Canadian based grow companies with IPOs have been extremely volatile, with most falling short of their profit goals. So this begs the question, are there ways to invest in the cannabis industry without directly investing into a grow or store, and the short answer is yes.
One company I have been watching is Hydrofarm (HYFM). They are a wholesale distributor of grow equipment, and supplies to hydroponic and gardening stores around the country. For years, their main market was the cannabis industry, which as we know is only going to get larger. But now with the increasing popularity of environmentally controlled agriculture in the farming community, I think we will see even more demand for the kind of equipment they supply. So, if you want to dabble in investing in the cannabis industry, Hydrofarm (HYFM) may just be for you.