America’s legal cannabis industry will belong to a minority of Americans with a large appetite for risk. The rest of us will watch from the sidelines.
That’s the verdict from massive financial firm Morgan Stanley, which released the results of a poll about investing in marijuana.
Even if marijuana were legalized in California, and throughout the U.S., about 69 percent of Americans would not invest. The average cannabis investor is going to be 65 and older, Democrat and relatively rare.
Morgan Stanley polled 1,003 “high net worth” investors age 25 to 75 online.
