...and I Got Way More than I Bargained for at America’s Largest Cannabis Conference. Here is My Story.
The Las Vegas Convention Center recently hosted two big events.
In the South Hall was “Cowboy Christmas,” basically a mega shopping opportunity for all things cowboy, as an adjunct to the main event, the Wrangler National Finals Rodeo. Rodeo attendance over 10 days was 168,289, down 0.5% from the year before, while Cowboy Christmas attendance over 10 days was 232,000. I’ll bet some people went twice, like me.
In the North Hall was MJBizCon, America’s biggest cannabis conference, with more than 1,300 exhibits, ranging from growers to processors to packagers to retailers and all the companies intent on serving this booming market, and more than 35,000 attendees, up an impressive 30% from last year.
I went to both.
[text_ad]
Entry to Cowboy Christmas was free, as it is to most shopping venues.
The list price for entry to MJBizCon was $499 for the three-day event, though some paid less by registering early, while others paid more for special programs.
Cowboy Christmas
At Cowboy Christmas, I saw hats—lots of hats.
I saw boots, including a big display from Boot Barn (BOOT), a stock that Cabot has recommended. Here are some colorful custom boots.
And I saw art.
I also saw blankets for horses and dogs, portable corrals, bootjacks, cowboy cookware, truck accessories, clothing for work and play, and more.
Plus, I entered a raffle for $70,000 toward the purchase of a RAM truck. So far, I haven’t won.
MJBizCon
At MJBizCon, I saw high-tech processing equipment made with the latest Chinese technology—including numerous vape technology companies.
I saw an Amsterdam company named Futurola selling shredding and rolling equipment—with the help of some sexy actors on a very big screen.
I saw these two guys from a tilapia farm in Rhode Island peddling their “soil conditioner.” One asked, “How are you?” I answered, “Amused.”
And I saw Mike Tyson and his posse. Mr. Tyson owns a marijuana ranch in California.
Both shows were a lot of fun.
But as I thought about these two shows, I thought about the fact that the two audiences for these events are so different—at least on the surface.
The cowboy crowd is majority rural white Americans, skewing older.
The cannabis crowd is majority urban multicultural, with a strong international component. In fact, there were 75 countries represented at the show.
The cowboy crowd values tradition and community and is iconically American.
The cannabis crowd values progress in the many fields that influence the industry, from growing technology to the effects of THC and CBD on health and wellness to progress in legalization.
But that’s only the way it is today!
Once upon a time, the cowboys were the trailblazers, exploring new territories, taking risks, expanding our knowledge of the country and making the land safe for the settlers that Theodore Roosevelt termed “the Great Leap Westward.”
But today there are no more physical territories to explore. Now, the cowboys’ way of life looks back as much as forward, preserving the land and traditions of yesteryear.
Cannabis is the New Wild West
And today cannabis is the field where great progress is being made, as scientists slowly gain knowledge about this complex plant and its numerous effects on the human body and mind. Already, it’s used for treatment of infant epilepsy, PTSD, nausea, chronic pain, muscle spasms, anorexia, arthritis, glaucoma, migraine and more.
And already, it’s been approved for medical use in 33 states, and totally legalized for adult use in 11 states and Washington, D.C. Before long—perhaps 2021—it will be legal all across the country, just as it is in Canada. And someday, long after I’m gone, cannabis will be as acceptable—and as American—as Budweiser, Jack Daniels and cowboys.
But for now, the cannabis industry is still much like the Wild West, full of risk and rewards, for those brave enough to venture in. And right now, as 2019 nears an end, is a great time to invest in marijuana stocks, as the Marijuana Index is down 47% since the start of the year and down 64% since its March peak.
To me, that looks like a great entry point! If you want to know what oversold cannabis stocks I’m currently recommending to my Cabot Marijuana Investor advisory readers, click here.
[author_ad]
