Over the last few weeks there has been some feverish activity surrounding ASX-listed cannabis stocks. I won’t bore you with the details. If you’re reading this, you probably already know what I’m talking about.
Don’t get me wrong – some of these companies are probably good investments and will turn out to be commercially successful. Many of them may eventually provide medicinal cannabis to patients in Australian and around the world.
But there are serious, structural issues in the Australian cannabis industry that still need to be addressed. Most immediately the safe and responsible expansion of patient access. And having the media circus run story after story on the immense profits (or losses) that might come from a quick punt on a pot stock aren’t doing anything to solve them.
So before you invest in a cannabis company, do a bit of research. What are they doing to help expand patient access in Australia? Are their research priorities clear and specific? How are they contributing to the education of clinicians and the medical community? Are they capable of navigating the regulatory environment?
And – perhaps most importantly – are they committed to achieving good patient outcomes? Those are the cannabis businesses we want, and those are the businesses that will stand the test of time.