In this world, we need money. Working a regular 9-to-5 job will never make you rich. No matter how much W2 income you save, it’s impossible to stockpile an outsized sum of cash.
“Investing in marijuana stocks now is like investing in alcohol stocks before prohibition ended.”
Investing is one of the only ways to do this – period. Nearly all of the world’s wealthiest people have earned their fortunes through investment income, not through salaries.
Put simply, investing is an essential component to financial freedom. With marijuana/cannabis stocks in particular, early investments have yielded incredibly ridiculous returns.
The first thing you’ll have to do before you can invest in stocks is open an online brokerage account.
All stock and ETF trades start at free. Plus, every Webull client gets access to robust trading platforms and 24/7 customer service, and Webull never charges any inactivity or maintenance fees.
This means it’s totally free to open an account with Webull. Many consumer banks in the US charge customers monthly fees just to maintain an account. The fact that it’s totally free at Webull is pretty awesome.
Remember, the goal of investing is to make money. Motley Fool Stock Advisor is a professional investing service that helps other investors find the best stocks to invest in. The Motley Fool is one of the most well-known names in investing, and they’ve been helping everyday investors since 1994.
Although you certainly don’t have to sign up for Motley Fool Stock Advisor to start investing in stocks, investing without signing up is like throwing darts with your eyes closes and hoping to hit a bullseye.
Nonetheless, once your Webull account is opened and funded, and you’re ready to trade, consider starting with these 4 stocks below, which are some of the most popular stocks in 2019.
|Ticker Symbol||Popular Because|
|BILZF||Dan Bilzerian’s THC and CBD company that’s poised for massive growth|
|TLRY||One of the largest and most well-known cannabis companies|
|CRON||Popular cannabis company from Canada|
|KUSH||Company that manufactures cannabis containers and products|
Once you’ve entered the ticker symbol name into Webull’s platform, real-time prices and buttons to buy and sell the stock will appear.
The next decision you need to make is how many shares you want to purchase. This will be your fractional ownership in the company. The exact number of shares to purchase is entirely up to you. You can buy 1 share or 1,000,000 shares. You’re only limited by the funds you have available. Ally’s system, thankfully, won’t let you accidentally purchase too many shares relative to your account value. As a general rule of thumb, most investors never put more than 10% of their available funds into a single stock. So if you have $1,000 and a stock is $50 per share, you might want to only buy a few shares, at least until you become comfortable with investing.
When it comes to placing orders, experts prefer to use “limit” orders, because you get to decide what price your trade will execute at. A “market” order will execute your order at the current market price. This is sort of like buying a house without looking at the offering price; for stocks, market orders are only useful if you don’t care about the short-term price movements and just want to own the stock. After submitting your “limit” order, you’ll receive a confirmation of your investment from and you’ll officially be an investor! Exciting!
If you want to sell your investment and close out your position, all you have to do is click on your position in your Webull account on the mobile app or desktop browser/app and click “sell”. Of course, if you need help with anything in this process, Webull customer service is ready to help you 24/7.
In the world of finance, investing in marijuana stocks is considered somewhat risky, but it’s also highly lucrative. As the old saying goes, “fortunes favor the bold.”
At the end of the day, buying stocks and investing is planning for your financial future. Experts agree that investing in the cannabis industry now is like investing in the alcohol industry right as prohibition ended.
Regardless of the amount of cash you have in your bank account, if it’s just sitting there, it’s not doing anything for you. Instead of trading their time for money, financially savvy people trade their money for more money by investing in stocks. Think about it!
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Collectively, we’ve spent thousands of hours examining the most popular financial products and tools. Bottom line, we simplify and explain the myriad of consumer financial options available today, so you can make decisions with ease.
Updated: Oct 21, 2019