Is cannabis losing its appeal with investors?
Not too long ago, cannabis was the big-ticket guaranteed investment of a lifetime. It was supposed to be one of the most lucrative industries since big tech, and the hype was so incredible that everyone wanted to become cannabis investors. It was an exciting time full of hope and wonder, but are the tides already drifting interest away from pot?
A less than stellar beginning
There was plenty of news coverage in the beginning when lineups were hours long to be one of the first in line to buy legal cannabis in Canada, but it only took a few weeks for the excitement of it all to wear off for consumers. Legal pot products were limited to flower, only a handful of different strains, and everything was priced far higher than the black market, making it less appealing and affordable for many long-term consumers. This drove away the hordes of traffic, and with the customers went the generous revenue that so many cannabis investors were counting on.
Though most Canadian cannabis businesses were able to keep their heads above water during more trying times, cannabis investors watched millions of dollars’ worth of value in precious pot stocks disappear virtually overnight. Sadly, those values through highs and lows have never fully recovered, leading many to tout cannabis stocks as a more ideal solution for the long-term investor, who is willing to be patient and await the opportunity to reap the coming rewards.
Slow and steady changes
We have seen plenty of changes in Canadian legislation at both the federal and provincial levels over these last 2 years, some of which allowed the introduction of more concentrated cannabis products and extracts. But it hasn’t been enough to allow for any major new movements from within the industry. The potency is highly restricted, the process is highly regulated, and in the end, it’s still all taxed at incredibly high rates, making it difficult for these new cannabis businesses to be profitable.
Cannabis has become just a little bit boring
Most consumers and entrepreneurs were hoping to see more opportunities with the introduction of legalization, but some of the biggest, brightest, and best business ideas have been stopped in their tracks by pesky regulations and restrictions. Even before COVID-19 came crashing in, we didn’t have pot concerts or comfortable lounges. Gold courses somehow failed to qualify to serve or allow cannabis consumption on the premises. We maintain a tight hold on what is and isn’t allowed, and that’s made things boring for everyone involved with the industry.
Cannabis consumers are more educated, making them more difficult to please
Though we certainly have a long way to go, in general, the public’s education in regard to cannabis has been taken to another level. People are excited to finally be talking about cannabis, and as a result, we’re learning that there’s a whole lot more to the experience than smoking a joint or chowing down on an edible to get high. We’re demanding that old stereotypes be tossed to the wayside and that new products meet our growing needs, and that makes us much harder to please in the eyes of cannabis investors and companies.
The enticing features of psilocybin
Psilocybin has several benefits to offer consumers, and investors are jumping at the opportunity to give it to them. Magic mushrooms have the sexy allure of a still illicit substance, and they’ve got everything from the most hallucinogenic and euphoric to medicinal qualities, just like cannabis. It’s a hot, new topic that’s trending in the medical world as well as the recreational scene, and all of those things combined mean big payouts for cannabis investors.
We know very little about psilocybin
As we learn more about cannabis, making false claims about it is getting increasingly more difficult to do because, in an age of technology, it’s far too easy to uncover the truth. With psilocybin, that’s just not the case, which means that it can be sold to us using sales tactics and claims that consumers might have a challenging time with deciphering. We know so little that right now if a company were to start selling micro-dosed capsules at $5 a pop, people would likely line up in droves even if it did nothing to truly benefit them.
It's coming and soon
The people want, and some would even go so far as to say that they need psilocybin. It can improve the lives of millions by offering a viable long term therapeutic treatment for a variety of medical conditions and soothe those who seek a release from this stressful reality with a heavy euphoric dose of bliss. We’ve barely scratched the surface of what this drug can do and it’s already clear that we do need psilocybin, but we should be legalizing it for all the right reasons.
Investors and entrepreneurs should care about the product they hope to be involved with, and what’s more, they should pride themselves in maintaining the truth. In a world that’s run by big money, it’s far too easy to lose sight of what’s important, and in this case, everything should be about what psilocybin has to offer society as a whole now and in the future.