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Medical marijuana sparks investors' interest - KATC.com | Continuous News Coverage | Acadiana-Lafayette

Medical marijuana sparks investors' interest

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So far, 29 U.S. states have approved the use of marijuana as a form of medical treatment, including Louisiana. Six doctors in the state have already applied to use medical marijuana in their practices.

The cannabis those medical professionals will use will likely come from Southern University or LSU, with the help of Advanced Biomedics and GB sciences.

The two campuses were recently approved to grow marijuana.

Statistics like these are prompting investment advisers in Acadiana to say the drug is something to keep an eye on and to keep it high on your list of future investments.

"The next thing that everybody is kind of rotating money to is medical marijuana stocks," said investment adviser Andrew Ahrens.

A good way to tell if a new drug is legitimate, according to Ahrens, is when the big pharmaceutical companies get involved. Personal experience can be even more convincing.

"Cannabis is coming. People are asking about it. They know that it helps people. I have a personal experience with someone in my family that was ill from cancer treatment and was given the option to have a little bit to help get the appetite back to help with chemo. I really think that it helped them and possibly saved their life," said Ahrens.

Despite the stigma, seven states have approved pot for recreational use. Even though that's not legal in Louisiana, investing in cannabis is legal.

"You can invest in medical marijuana. There are legal ways to invest in it. There are good, safe companies that have good track records that have adopted it. That's probably the safest way to get in on the latest craze on the next medical breakthrough," said Ahrens.

But Ahrens says it's always best to do your homework first.

"The medical marijuana stocks, because many of them are connotated or associated with major pharmaceutical companies, should make them a little more steady. But all of these things that come out that are new, they're volatile until they find their footing. Until they stabilize a little bit," said Ahrens.

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