Thor Benson / Cannabis News Box Contributor

With legal sales starting in California and states setting records for sales outside California, it’s a pretty good time to be investing in the cannabis industry. That is, unless Attorney General Jeff Sessions starts messing things up, but that story is still developing. The question becomes: What should we be investing in?

One way to avoid the Sessions fiasco is to invest in cannabis in countries where Sessions holds no power.

“My bet is on the Canadian Cannabis market,” Jason Spatafora, a cannabis industry investor and owner of marijuanastocks.com, told Cannabis News Box. “Last year they legalized medical marijuana and the Trudeau administration is trying to set a firm date for a legal recreational market in 2018. The expected date is July 1st, but I wouldn’t be surprised if that is pushed back a few months. Either way, Canada will be a global leader for this vice industry.”

That could mean investing directly in Canadian cannabis brands, or not. Spatafora explained that there are many ways to invest in things related to the cannabis industry without investing directly in cannabis brands. He said people can invest in “components” of the cannabis industry that will likely do well as cannabis revenues go up.

“Case in point would be a company like Scotts Miracle Grow (SMG) that provides agricultural products,” Spatafora said. “If investors look at companies spread out through the spectrum of multiple industries, from banking to accounting… they will see that there are places to prosper so long as they fill an infrastructure type need for a new industry.”

In America, California beginning social use cannabis sales is going to have a huge impact on the industry, and it’s likely many new brands will take off. Existing brands will also find their place in this massive market. Spatafora believes market success in California will cause other states to legalize.

All of this said, it’s easy to lose money investing if you don’t know what you’re doing or make hasty decisions. That’s why it’s important to do your research. Don’t just invest in whatever company has the coolest name. Spatafora says to also be wary of companies that make big promises they probably can’t keep.

“Be skeptical of companies that say they will be the biggest or the best, be wary of companies with insurmountable debts they will never get out from under,” he said. “Investors must look to hit singles and doubles sometimes, rather than home runs. This is still the first few innings of a marathon game, [so] always take profits and do your own research.”