One company is revolutionizing how we are able to test for marijuana impairment.
In a somewhat choppy market yesterday, there was one clear winner…
Cannabix Technologies Inc. (BLOZF) stock exploded over 57% by the close of trading.
If you’re unfamiliar with Cannabix, it is a company that is currently developing a marijuana breathalyzer. What sets Cannabix’s product apart from the marijuana test that are currently available is its ability to potentially identify impairment.
Unlike currently available blood or urine testing methods, the breathalyzer focuses on isolating and measuring the amount of THC (the psychoactive component in marijuana that causes impairment) in a subject’s breath.
The handheld device offers the ability to determine if a subject has recently smoked marijuana (within one to three hours that typically signifies high levels of impairment) in a matter of minutes – as opposed to days or weeks with other testing methods.
The reason for the incredible boost in BLOZF stock stems from the U.S. Patent and Trademark Office granting Cannabix a patent on its device, allowing the company to protect its intellectual property and paving the way for a more widespread release of its devices.
Here’s why the opportunity is so massive…
Where’s the money?
In recent years, we’ve seen a gigantic shift in public opinion over cannabis use here in the U.S., and laws are constantly changing to reflect that. In fact, there are now only 13 states in which recreational or medical marijuana remains completely illegal.
With so many more potential users, the need to identify impairment is more important than ever. While it may be perfectly legal in many places to use cannabis, it will remain illegal to drive impaired and private companies will want to ensure that employees aren’t showing up to work high.
So naturally, demand for a device that can identify recent marijuana use in a matter of minutes is in high demand – and that demand will only continue to rise should the U.S. move to decriminalize cannabis at the federal level.
So, is an investment in Cannabix the right move to make?
How do I get some?
Given the huge rise in share price that BLOZF experienced yesterday, now is not likely the best time to buy.
Also, with so many unknowns yet to be clarified in the cannabis industry, I believe the better bet is in cannabis ETFs like the ETFMG Alternative Harvest ETF (MJ).
I have very high expectations for the cannabis industry as a whole, and funds like these give you a collection of the top stocks in the industry instead of rolling the dice on just one company.
If you’re looking to add some cannabis exposure to your portfolio, I’d highly recommend MJ.
The Best Way to Maximize Your Cannabis Investing
As I mentioned above, the cannabis industry is constantly evolving, with perceptions changing almost as fast as new companies enter the fray.
Even though I recommend a patient approach, I still believe all the signs are pointing toward a potential profit explosion in the coming months and years.
And whatever new developments take place, my colleague Don Yocham, director of the National Institute for Cannabis Investing, is prepared to guide you through them.
Join him – and the world’s largest network of cannabis investors – right here.
In the Spotlight:
It’s no secret that the price of oil took a big hit in 2020. As travel demand nearly disappeared and even daily commuters stopped using their vehicles as they worked from home, oil investors were left holding the bag.
But as we recover from the pandemic and oil demand normalizes, there’s going to be some huge movements in the energy sector. Producers that have been forced to cut production are slowly starting to come back online, and the profits are going to start flowing again soon.
I’m going to be keeping a sharp on the some of the best opportunities to make huge profits in the months to come – and I’ll be sharing my thoughts with you right here at Profit Pregame. Stay tuned.